New York A02364 amends the not-for-profit corporation law to protect community services affected by the sale, mortgage, or lease of religious.

New York A02364 amends the not-for-profit corporation law to safeguard community services provided by religious corporations. If a court finds that a transaction involving the corporation's real property may disrupt essential community services, it may schedule a separate hearing. Affected community organizations can offer to purchase necessary assets or accept guarantees for continued service provision. The court may delay the transaction if it determines the disruption is irreversible or immediately harmful. The act takes effect immediately.

New York A02364 amends the not-for-profit corporation law to protect community services affected by the sale, mortgage, or lease of religious.

New York A02364 amends the not-for-profit corporation law to safeguard community services provided by religious corporations. If a court finds that a transaction involving the corporation's real property may disrupt essential community services, it may schedule a separate hearing. Affected community organizations can offer to purchase necessary assets or accept guarantees for continued service provision. The court may delay the transaction if it determines the disruption is irreversible or immediately harmful. The act takes effect immediately.