Revising the Model Nonprofit Corporation Act: Plus Qa Change, Plus C'est La M~me Chose

The proposed revision of the 1988 version of the Model Nonprofit Corporation Act (MNCA) leaves most of the 1988 revisions in place. Overall the changes will bring the Act closer to the Model Business Corporation Act which was the stated intention of the 1988 revision. The major changes which are being proposed include: dropping the classification scheme which divided nonprofit corporations into Public Benefit, Mutual Benefit and Religious corporations;deleting certain provisions with respect to the role of the attorney general; prohibiting cumulative voting; including provisions of the Model Entity Transactions Act (META); and providing for Select Exempt Corporations.