Section 201 Of The Not For Profit Corporation Law

Section 203 defense of ultra vires.

Section 201 of the not for profit corporation law. Public cemetery corporations. Any corporation formed for both charitable purposes and non charitable purposes shall be deemed a charitable corporation for purposes of this chapter. A type a not for profit corporation formed prior to july first two thousand fourteen shall be deemed a non charitable corporation under this chapter.

A not for profit corporation is a corporation formed pursuant to the not for profit corporation law. A a corporation as defined in paragraph a of 102 definitions may be formed under this chapter as a charitable corporation or a non charitable corporation unless it may be formed under any other corporate law of this state in which event it may not be formed under this chapter unless such other corporate law expressly so provides. Not for profit corporation law section 201 purposes provides that a not for profit corporation may be formed for as a charitable corporation or a non charitable corporation as defined in not for profit corporation law section 102 definitions.

Foreign nonprofit corporations. Any corporation formed for both charitable purposes and non charitable purposes shall be deemed a charitable corporation for purposes of this chapter. Sections 1401 1412.

A type a not for profit corporation formed prior to july first two thousand fourteen shall be deemed a non charitable corporation under this chapter. Conversion to a corporation governed by the business corporation law. Forming a not for profit corporation.

In all instances not for profit corporations may not be formed for profit or financial gain. Additionally no corporate assets income or profit may be distributed to the corporation s members directors or officers unless permitted by the npcl. Special not for profit corporations.

Requirements for names generally. Not for profit corporations are formed in new york state pursuant to the not for profit corporation law anpcl. Any corporation formed for both charitable purposes and non charitable purposes shall be deemed a charitable corporation for purposes of this chapter.