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The Laws of New York
Consolidated Laws of New York
CHAPTER 35
Not-for-Profit Corporation
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Formation of Corporations
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CHAPTER 35
Not-for-Profit Corporation
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ARTICLE 5-A
Prudent Management of Institutional Funds Act
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ARTICLE 5
Corporate Finance
Not-for-Profit Corporation (NPC) CHAPTER 35
SECTION 501
Stock and shares prohibited; membership certificates authorized
SECTION 502
Members' capital contributions
SECTION 503
Capital certificates
SECTION 504
Subventions
SECTION 505
Subvention certificates
SECTION 506
Bonds and security interests
SECTION 507
Fees, dues and assessments; fines and penalties
SECTION 508
Income from corporate activities
SECTION 509
Purchase, sale, mortgage and lease of real property
SECTION 510
Disposition of all or substantially all assets
SECTION 511
Petition for court approval
SECTION 511-A
Petition for attorney general approval
SECTION 513
Administration of assets received for specific purposes
SECTION 514
Delegation of investment management
SECTION 515
Dividends prohibited; certain distributions of cash or property authorized
SECTION 516
Distributions to members upon termination of membership
SECTION 517
Liabilities of members
SECTION 519
Annual report of directors
SECTION 519-A
Annual reports for certain transactions required
SECTION 520
Reports of corporation
SECTION 521
Liability for failure to disclose required information
ARTICLE 5

CORPORATE FINANCE
Section 501. Stock and shares prohibited; membership certificates

authorized.

502. Members' capital contributions.

503. Capital certificates.

504. Subventions.

505. Subvention certificates.

506. Bonds and security interests.

507. Fees, dues and assessments; fines and penalties.

508. Income from corporate activities.

509. Purchase, sale, mortgage and lease of real property.

510. Disposition of all or substantially all assets.

511. Petition for court approval.

511-a. Petition for attorney general approval.

513. Administration of assets received for specific purposes.

514. Delegation of investment management.

515. Dividends prohibited; certain distributions of cash or

property authorized.

516. Distributions to members upon termination of membership.

517. Liabilities of members.

519. Annual report of directors.

519-a. Annual reports for certain transactions required.

520. Reports of corporation.

521. Liability for failure to disclose required information.