Liability of directors, officers, trustees and key persons
- Statute:
- New York §720-A · Law NPC (Not-for-Profit Corporation Law)
- Topic:
- Officers & Directors · Volunteer immunity
- Applies to:
- Nonprofit associations
Uncompensated directors, officers, key persons, and trustees of 501(c)(3) corporations are immune from civil liability to third parties for acts in execution of office, unless the conduct constitutes gross negligence or was intended to cause harm.
📄 Read the official text at nysenate.gov →
How SoShiny helps with Liability of directors, officers, trustees and key persons
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 §720-A require?
- Uncompensated directors, officers, key persons, and trustees of 501(c)(3) corporations are immune from civil liability to third parties for acts in execution of office, unless the conduct constitutes gross negligence or was intended to cause harm.
- Who does New York §720-A apply to?
- New York §720-A applies to Nonprofit associations in New York.
- What happens if our co-op or condo doesn't comply with §720-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 §720-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 Liability of directors, officers, trustees and key persons?
- 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 §720-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.
Stay current on New York association law.
Get the free quick-reference guide plus a heads-up when the statutes that govern your community change.
Don’t run your co-op or condo on spreadsheets.
Start your community free →