ABA Business Law Section exposes 3d edition of Model Nonprofit Corporation Act; seeks comments

The ABA Business Law Section today issued, for comment, the Model Nonprofit Corporation Act, Third Edition (January 2008 Exposure Draft). The full text and commentary are available in two parts:

http://meetings.abanet.org/webupload/commupload/CL580000/sitesofinterest_files/MNCAPart1.doc

http://meetings.abanet.org/webupload/commupload/CL580000/sitesofinterest_files/MNCAPart2.doc.

It will be discussed at an upcoming meeting of the Business Law Section’s Nonprofit Corporations Committee on Friday, April 11, in Dallas. Written comments may be sent to the Chair of the Task Force, at Stetson University College of Law, 1401 61st Street, South, St. Petersburg, FL 33707, with a copy to the Reporter at Drinker Biddle & Reath LLP, One Logan Square, Philadelphia, PA 19103.

For a critical first look, see Jack Siegel’s reactions at http://www.charitygovernance.com/charity_governance/2008/04/not-ready-for-p.html.

rk