Model Nonprofit Corporation Act

The Model Nonprofit Corporation Act is a comprehensive set of statutes that can be adopted by states to regulate the establishment and operation of nonprofit corporations within their jurisdictions. The Revised Model Nonprofit Corporation Act was adopted in 1987 by the Subcommittee on the Model Nonprofit Corporation Law, of the Business Law Section of the American Bar Association. The model act describes both the requirements for registration with the state, and what must be included in an acceptable set of Articles of Incorporation and Bylaws. The Revised Model Act has been adopted, in whole or in part, in Arkansas, Indiana, Mississippi, Montana, North Carolina, South Carolina, Tennessee, Washington and Wyoming. Nearly half the states, while not formally adopting the Act, follow the Act in general terms.

Inside Model Nonprofit Corporation Act