N.Y. Religious Corporations Law 5-B – Any investment of the funds of any religious corporation heretofore made by the trustees thereof shall not be deemed to have been restric…
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§ 5-b. Any investment of the funds of any religious corporation heretofore made by the trustees thereof shall not be deemed to have been restricted to securities which are lawful for the investment of trust funds.
Terms Used In N.Y. Religious Corporations Law 5-B
- 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.