a. A corporation shall be either,

Terms Used In N.Y. General Construction Law 65

  • 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.

1. A public corporation,

2. A corporation formed other than for profit, or

3. A corporation formed for profit.

b. A public corporation shall be either,

1. A municipal corporation,

2. A district corporation,

3. A public benefit corporation.

c. A corporation formed other than for profit shall be either,

1. A religious corporation,

2. An education corporation,

3. A cooperative corporation,

4. A not-for-profit corporation, or

5. Any other corporation formed other than for profit which is not a public corporation. A reference in a general law to a class of corporations described in accordance with this classification shall include all corporations belonging to such class.

d. A corporation formed for profit shall be either,

1. A business corporation,

2. A moneyed corporation,

3. A railroad corporation,

4. A transportation corporation, or

5. A benefit corporation.