Bill Text: NY A10281 | 2011-2012 | General Assembly | Introduced

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Bill Title: Allows a professional service corporation, in good standing, to convert to a design professional service corporation if it meets all stated requirements to become a design professional service corporation.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Passed) 2012-10-03 - approval memo.16 [A10281 Detail]

Download: New_York-2011-A10281-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         10281
                                 I N  A S S E M B L Y
                                     May 17, 2012
                                      ___________
       Introduced  by  M.  of  A.  CANESTRARI  -- read once and referred to the
         Committee on Higher Education
       AN ACT to amend the business corporation  law,  in  relation  to  design
         professional service corporations
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Section 1503 of the business corporation law is amended  by
    2  adding a new paragraph (b-5) to read as follows:
    3    (B-5) ON OR AFTER JANUARY FIRST, TWO THOUSAND TWELVE, THE STATE EDUCA-
    4  TION  DEPARTMENT  AND  THE  DEPARTMENT  OF STATE SHALL ALLOW AN EXISTING
    5  PROFESSIONAL SERVICE CORPORATION IN GOOD STANDING TO CONVERT TO A DESIGN
    6  PROFESSIONAL SERVICE CORPORATION AS DEFINED IN  THIS  ARTICLE,  PROVIDED
    7  THE  DESIGN  PROFESSIONAL  SERVICE CORPORATION MEETS ALL OF THE REQUIRE-
    8  MENTS TO BECOME A DESIGN  PROFESSIONAL  SERVICE  CORPORATION,  INCLUDING
    9  THAT ITS NAME SHALL END WITH THE WORDS "DESIGN PROFESSIONAL CORPORATION"
   10  OR THE ABBREVIATION "D.P.C.".
   11    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD15846-01-2