A critical analysis of the directors’ protocol in new york’s not for profit and business corporations

Analyzes the directors’ protocols in both the New York Not for Profit Corporation Law and in the New York Business Corporation Law. Examines the similarities and differences existing in the directors’ roles in not for profit corporations and in business corporations. Highlights the legal responsibilities of a not for profit corporation director and warns that, despite such an assignment being voluntary and without compensation, it carries the potential for significant legal exposure if certain formalities are not kept.