KLS Keeping Law Simple Legislation in plain English

Straight-ahead summaries built from the official bill text. We keep the source links front and center and leave the decision up to you.

Back to New York

A4347 • 2025

Relates to retiring cemetery indebtedness

Relates to retiring cemetery indebtedness

Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor
Alicia Hyndman
Last action
2026-05-11
Official status
In Senate Committee
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Relates to retiring cemetery indebtedness

Relates to retiring cemetery indebtedness Provides that any cemetery corporation is permitted to retire any certificates or other instruments of indebtedness related to its operations to the benefit of such cemetery's permanent maintenance fund upon notice to the certificate owners.

What This Bill Does

  • Relates to retiring cemetery indebtedness Provides that any cemetery corporation is permitted to retire any certificates or other instruments of indebtedness related to its operations to the benefit of such cemetery's permanent maintenance fund upon notice to the certificate owners.

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

  1. 2026-05-11 Assembly

    PASSED ASSEMBLY

  2. 2026-05-11 Assembly

    DELIVERED TO SENATE

  3. 2026-05-11 Senate

    REFERRED TO FINANCE

  4. 2026-05-07 Assembly

    ADVANCED TO THIRD READING CAL.451

  5. 2026-05-05 Assembly

    REPORTED

  6. 2026-02-10 Assembly

    REPORTED REFERRED TO WAYS AND MEANS

  7. 2026-01-07 Assembly

    REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

  8. 2025-02-04 Assembly

    REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

Official Summary Text

Relates to retiring cemetery indebtedness
Provides that any cemetery corporation is permitted to retire any certificates or other instruments of indebtedness related to its operations to the benefit of such cemetery's permanent maintenance fund upon notice to the certificate owners.

Current Bill Text

Read the full stored bill text 
S T A T E   O F   N E W   Y O R K
        ________________________________________________________________________

                                          4347

                               2025-2026 Regular Sessions

                                  I N  A S S E M B L Y

                                    February 4, 2025
                                       ___________

        Introduced  by M. of A. HYNDMAN -- read once and referred to the Commit-
          tee on Corporations, Authorities and Commissions

        AN ACT to amend the  not-for-profit  corporation  law,  in  relation  to
          retiring cemetery indebtedness

          THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
        BLY, DO ENACT AS FOLLOWS:

     1    Section 1. The not-for-profit corporation law is amended by  adding  a
     2  new section 1511-a to read as follows:
     3  § 1511-A. RETIREMENT OF CEMETERY INDEBTEDNESS.
     4    FOLLOWING  A  MAILING FROM THE CEMETERY CORPORATION PROVIDING AT LEAST
     5  SIXTY DAYS NOTICE TO THE LAST KNOWN OWNERS AT THEIR  ADDRESSES  ON  FILE
     6  WITH  THE CEMETERY CORPORATION, ANY CERTIFICATES OR OTHER INSTRUMENTS OF
     7  INDEBTEDNESS ISSUED UNDER THIS ARTICLE WHICH SHALL HAVE HAD DIVIDENDS OR
     8  PROCEEDS REMAINING UNCLAIMED FOR A PERIOD OF THREE  YEARS  SHALL  REVERT
     9  SUCH CERTIFICATES OR OTHER INSTRUMENTS OF INDEBTEDNESS AND ANY DIVIDENDS
    10  OR  PROCEEDS  TO  THE CEMETERY CORPORATION WHICH SHALL BE DEPOSITED INTO
    11  THE CORPORATION'S  PERMANENT  MAINTENANCE  FUND  FOR  THE  PRESERVATION,
    12  IMPROVEMENT AND MAINTENANCE OF THE CEMETERY. THE CEMETERY SHALL MAINTAIN
    13  A  RECORD OF THESE TRANSFERS TO SUCH FUND AND AT THE TIME OF SUCH TRANS-
    14  FER, ANY VOTING RIGHTS FOR SUCH CERTIFICATES  OR  INSTRUMENTS  SHALL  BE
    15  ANNULLED.  SUBSEQUENT TO ANY DEPOSITS TO A CEMETERY'S FUND, ANY CLAIMANT
    16  TO SUCH CERTIFICATES OR INSTRUMENTS OF INDEBTEDNESS  SHALL  BE  ENTITLED
    17  ONLY TO THE VALUE OF THE INSTRUMENT OR CERTIFICATE AT THE TIME OF TRANS-
    18  FER.
    19    § 2. This act shall take effect immediately.



         EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD05838-01-5