N.Y. Not-for-Profit Corporation Law 109 – Reservation of power
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§ 109. Reservation of power.
Terms Used In N.Y. Not-for-Profit Corporation Law 109
- 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 legislature reserves the right, at pleasure, to alter, amend, suspend or repeal in whole or in part this chapter, or any certificate of incorporation or any authority to do business in this state, of any domestic or foreign corporation, whether or not existing or authorized on the effective date of this chapter.