N.Y. Not-for-Profit Corporation Law 1009 – Applicability to dissolution under other provisions
§ 1009. Applicability to dissolution under other provisions.
Terms Used In N.Y. Not-for-Profit Corporation Law 1009
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
The provisions of paragraphs (c), (d) and (e) of section 1002-a of this article (Carrying out the plan of dissolution and distribution of assets), sections 1006 (Corporate action and survival of remedies after dissolution), 1007 (Notice to creditors; filing or barring claims) and 1008 (Jurisdiction of supreme court to supervise dissolution and liquidation) shall apply to a corporation dissolved by proclamation pursuant to section 1014 (Dissolution of domestic corporations by proclamation), by expiration of its period of duration or under section 203-a of the tax law, or to an incorporated firemen's benevolent association created by act of the legislature if such act is subsequently repealed.