New York S00612 mandates the appointment of an independent fiduciary to oversee the dissolution of a charter school, including asset distribution.

New York S00612 amends the education law to require the appointment of an independent fiduciary upon the closing of a charter school. This fiduciary is tasked with developing and implementing the dissolution plan, including the distribution of assets. The fiduciary can be a non-profit entity, a board of cooperative educational services, a school district, or an individual. They have the authority to review records, contracts, and disbursements, and can supersede conflicting decisions.

New York S00612 mandates the appointment of an independent fiduciary to oversee the dissolution of a charter school, including asset distribution.

New York S00612 amends the education law to require the appointment of an independent fiduciary upon the closing of a charter school. This fiduciary is tasked with developing and implementing the dissolution plan, including the distribution of assets. The fiduciary can be a non-profit entity, a board of cooperative educational services, a school district, or an individual. They have the authority to review records, contracts, and disbursements, and can supersede conflicting decisions.