A Look At Guidance For The NYPMIFA

Law360, New York (May 6, 2011, 1:19 PM EDT) -- The New York Prudent Management of Institutional Funds Act[1], which is codified primarily in the new Article 5-A of the New York Not-for-Profit Corporation Law (the N-PCL), Sections 550 through 558, makes significant changes to the rules governing how New York nonprofit organizations may manage and invest their funds and spend from their endowment funds.[2]

On March 17, the New York State Attorney General’s Charities Bureau issued guidance on NYPMIFA titled “A Practical Guide to the New York Prudent Management of Institutional Funds Act” (the guide)....
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