The New York Not for Profit Corporation law, Section 1402(f), contains a requirement that the directors of fire companies outside of cities and villages must file an annual report with their County Clerk. That section provides, in full:
“(f) Directors to file report. It shall be the duty of the directors of all fire, hose, protective or hook and ladder corporations incorporated under a general law or of a fire corporation formed under this section in territory outside of cities or villages, or a majority of them, on or before the fifteenth day of January in each year, to make and file in the county clerk’s office, where the certificate of incorporation is filed a verified certificate, stating the names of the directors and officers of the corporation, containing an inventory of its property, a statement of its liabilities and that the corporation has not engaged, directly or indirectly, in any business other than that set forth in its certificate of incorporation.”
Directors have until January 15 to file their report with the County Clerk’s Office. As set forth above, the report must contain an inventory of property, a statement of liabilities and a statement that the corporation has not engaged in activities outside its purpose as set forth in its certificate of incorporation.
While I could not advise any fire company not to file this report, I am not aware of any fire company which has actually filed this report. Nor am I aware of any statutory penalties for failure to file the report.
This may be another example of a requirement apparently with no purpose. I would be curious to know if anyone has been filing this report, or if anyone has been subjected to penalty for failure to file.
There is another report which the board of directors must file, but with the members, not with the County Clerk. Pursuant to Section 519 of the New York Not for Profit Corporation Law, the board must present at the annual meeting members a report, verified by the President and Treasurer or by a majority of the directors or a CPA, showing in detail the financial information including the assets and liabilities of the department and its revenues, expenses and change in membership. It is advisable that all fire company board comply with this requirement.
