New York Nonprofit And Charitable Organizations Legal Questions

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New York Nonprofit And Charitable Organizations Questions & Legal Answers
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Recent Legal Answers

We need to change our not for profit corp. to an LLC

Answered 3 years and 4 months ago by attorney Matt Bryant   |   1 Answer
You can't find a lawyer to convert a NPC to an LLC directly because it can't be done. By law, the managers of the NPC do not own its assets. To accomplish your objective, you need to prepare and adopt a Plan of Dissolution and Distribution of Assets, which has to be approved by the AG. To do that, you'll likely need counsel to assess your charter and assets. If you're holding assets in trust, you they have to be distributed accordingly.... Read More
You can't find a lawyer to convert a NPC to an LLC directly because it can't be done. By law, the managers of the NPC do not own its assets. To... Read More