Document Type
Article
Publication Date
1-2005
Abstract
New York's Empire Blue Ccoss and Blue Shield conversion from nonprofic cofor profic form has considerable legal significance. Three aspects of the conversion ma.ke checase unique: the role of the scace legislature in directing the disposicion of the conversion assets, che face chac it made itself che primary beneficiary of chose assets, and the actions of che scace attorney general defending the state rather than che public inceresc in che charitable assets. Drawing on several cenruries of common Law rejecting the Legislacive power to direct the disposition of charitable funds, chis article argues chat the legislature lacked power cocontrol che conversion and direcc the disposition of ics proceeds and chat its actions not only undermined the nonprofic form but also raised conscicucional concerns.
Recommended Citation
Horwitz, Jill R. "The Common Law Power of the Legislature: Insurer Conversions and Charitable Funds." M. R. Fremont-Smith, co-author. Milbank Q. 83, no. 2 (2005): 225-46.
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Business Organizations Law Commons, Health Law and Policy Commons, Nonprofit Organizations Law Commons, State and Local Government Law Commons