Under New York State Law What Salaries Does A Non
The text discusses the legal requirements and guidelines for good governance in nonprofits, specifically in the state of New York. The board of directors must approve the compensation of officers by majority vote, and paying board members can result in losing immunity in some states. Nonprofit salaries must be publicly reported and it is important for nonprofits to be aware of the market rate when hiring new staff members. The New York Not-for-Profit Corporation Law sets forth detailed rules for nonprofits operating in the state.
Under New York State law, a nonprofit board must review the salaries of its officers. The board of directors is required to approve the compensation of officers by a majority vote. It's important to note that paying board members can impact the organization's immunity in certain states. Additionally, nonprofit salaries must be publicly reported, and it's crucial for nonprofits to be mindful of the market rate when hiring new staff members. The New York Not-for-Profit Corporation Law outlines detailed rules for nonprofits operating in the state.
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