N.Y. Public Authorities Law 1687 – Members and employees not to profit
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§ 1687. Members and employees not to profit. No officer, member or employee of the corporation shall receive or may be lawfully entitled to receive any pecuniary profit from the operation thereof except reasonable compensation for services in effecting one or more of its purposes herein set forth.
Terms Used In N.Y. Public Authorities Law 1687
- 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.