Conflict of interest policy
- Statute:
- New York §715-A · Law NPC (Not-for-Profit Corporation Law)
- Topic:
- Officers & Directors · Conflicts policy
- Applies to:
- Nonprofit associations
Every corporation must adopt a written conflict of interest policy, with annual disclosure by directors, officers, and key persons.
📄 Read the official text at nysenate.gov →
How SoShiny helps with Conflict of interest policy
SoShiny keeps your board roster, officer titles (President, VP, Secretary, Treasurer, Director), and election history current in one place — so the statutory requirement to identify directors and officers is always one click away.
See the feature → Start freeFrequently asked
- What does New York §715-A require?
- Every corporation must adopt a written conflict of interest policy, with annual disclosure by directors, officers, and key persons.
- Who does New York §715-A apply to?
- New York §715-A applies to Nonprofit associations in New York.
- What happens if our co-op or condo doesn't comply with §715-A?
- Non-compliance with this New York statute can expose the association and its officers to private civil suit, and (for offering-plan / sponsor matters under GBS) to enforcement action by the New York Attorney General's Real Estate Finance Bureau. SoShiny's audit trail and documented workflows are designed to demonstrate good-faith compliance.
- Where can I read the official text of New York §715-A?
- The official text is published by the New York State Legislature at nysenate.gov. The summary on this page is for plain-English reference only and is not legal advice.
- How does SoShiny help with Conflict of interest policy?
- SoShiny keeps your board roster, officer titles (President, VP, Secretary, Treasurer, Director), and election history current in one place — so the statutory requirement to identify directors and officers is always one click away. Learn more →
Not legal advice. This page is a plain-English summary of New York §715-A prepared by SoShiny for board members and managers. For binding legal advice or interpretation, consult a New York-licensed attorney. For the official statutory text, see the link above.
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