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Current as of January 01, 2024 | Updated by FindLaw Staff
(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.
(b) A corporation formed under this chapter on or after July first, two thousand fourteen shall either be a charitable corporation or a non-charitable corporation. 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. Any submission or filing by such corporation to any person or entity shall be deemed to have been submitted or filed by a non-charitable corporation, and any reference in any such filing or submission referring to the status of such corporation as a type A corporation shall be deemed to refer to a non-charitable corporation.
(c) A type B or C not-for-profit corporation formed prior to July first, two thousand fourteen shall be deemed a charitable corporation for all purposes under this chapter. Any submission or filing by such corporation to any person or entity shall be deemed to have been submitted or filed by a charitable corporation, and any reference in any such filing or submission referring to the status of such corporation as a type B or type C corporation shall be deemed to refer to a charitable corporation.
(d) A type D not-for-profit corporation formed prior to July first, two thousand fourteen for charitable purposes shall be deemed a charitable corporation. Any submission or filing by such corporation to any person or entity shall be deemed to have been submitted or filed by a charitable corporation, and any reference in any such filing or submission referring to the status of such corporation as a type D corporation shall be deemed to refer to a charitable corporation. Any other type D not-for-profit corporations formed prior to July first, two thousand fourteen shall be deemed a non-charitable corporation. Any submission or filing by such corporation to any person or entity shall be deemed to have been submitted or filed by a non-charitable corporation, and any reference in any such filing or submission referring to the status of such corporation as a type D corporation shall be deemed to refer to a non-charitable corporation.
Cite this article: FindLaw.com - New York Consolidated Laws, Not-For-Profit Corporation Law - NPC § 201. Purposes - last updated January 01, 2024 | https://codes.findlaw.com/ny/notforprofit-corporation-law/npc-sect-201/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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