N.Y. Social Services Law 472-E – Institution continued; powers
§ 472-e. Institution continued; powers. The body corporate known prior to August twenty-fifth, eighteen hundred and ninety-six, by the name of the "Burnham Industrial Farm," the name of which was, on that day, changed to "Berkshire Industrial Farm," which corporation was continued by the former provisions of this section, taking effect February seventeenth, nineteen hundred and nine, under the name and style of "Burnham Industrial Farm," and thereafter continued as the "Berkshire Industrial Farm" by section three of chapter six hundred nineteen of the laws of nineteen hundred forty until March first, nineteen hundred fifty-nine, when its name was changed to "Berkshire Farm for Boys" by chapter thirty-five of the laws of nineteen hundred fifty-nine and thereafter continued as the "Berkshire Farm for Boys," is hereby changed and shall be known as "Berkshire Farm Center and Services for Youth", and by the latter name shall have power to take by gift, lease, purchase, devise or bequest real and personal property and hold the same for the proper uses and purposes of said corporation.
Terms Used In N.Y. Social Services Law 472-E
- Bequest: Property gifted by will.
- 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.
- Devise: To gift property by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Personal property: All property that is not real property.