N.Y. Education Law Section 216-B
Private foundations, as defined in the United States internal revenue code of 1954: provisions included in the charter

1.

The following provisions are hereby included in the charter, heretofore or hereafter granted under this chapter, to incorporate an institution or association (chartered organization) which is a private foundation as defined in section 509 of the United States internal revenue code of 1954 (“Code”).

a.

The chartered organization shall distribute such amounts for each taxable year at such time and in such manner as not to subject the chartered organization to tax on undistributed income under section 4942 of the code.

b.

The chartered organization shall not engage in any act of self-dealing which is subject to tax under section 4941 of the code.

c.

The chartered organization shall not retain any excess business holdings which are subject to tax under section 4943 of the code.

d.

The chartered organization shall not make any investments in such manner as to subject the corporation to tax under section 4944 of the code.

e.

The chartered organization shall not make any taxable expenditures which are subject to tax under section 4945 of the code. Except as provided in subdivision two, this subdivision applies notwithstanding any other provision of the charter or any direction in an instrument by which assets were transferred to the chartered organization.

2.

Subdivision 1 shall not apply to the extent that it conflicts with any mandatory direction in an instrument by which assets were transferred to the chartered organization prior to the effective date of this section unless such conflicting direction is removed as impracticable under article eight of the estates, powers and trusts law or in any other manner provided by law. The absence of a specific provision in such an instrument for the current use of the principal of the fund, or the presence in such an instrument of a provision, as to the principal of the fund, limited to the principal’s being held, invested and reinvested, is not such a conflicting mandatory direction.

3.

All references in this section to sections of the code shall be to sections as amended from time to time, or to corresponding provisions of subsequent internal revenue laws.

4.

Nothing in this section shall impair the rights and powers of the courts or the attorney-general of this state.

Source: Section 216-B — Private foundations, as defined in the United States internal revenue code of 1954: provisions included in the charter, https://www.­nysenate.­gov/legislation/laws/EDN/216-B (updated Sep. 22, 2014; accessed Oct. 26, 2024).

201
Corporate name and objects 202
Regents 203
Officers 204
Meetings and absences 205
Quorum 206
Authority to take testimony and conduct hearings 207
Legislative power 207‑A
Disclosure of gifts made to institutions of higher education by foreign governments, persons and entities 207‑B
Crisis resources 208
General examinations, credentials and degrees 208‑A
Scheduling of examinations 209
Academic examinations 209‑A
Applications for admission to college 210
Registrations 210‑A
Admission requirements for graduate-level teacher and educational leader programs 210‑B
Graduate-level teacher and educational leadership program deregistration and suspension 210‑C
Interstate reciprocity agreement for post-secondary distance education programs 211
Review of regents learning standards 211‑A
Enhanced state accountability system 211‑B
Consequences for consistent lack of improvement in academic performance 211‑C
Distinguished educators 211‑D
Contract for excellence 211‑E
Educational partnership organizations 211‑F
Takeover and restructuring failing schools 212
Fees 212‑A
Return of deposits for professional and graduate schools 212‑B
Return of tuition for colleges, universities, professional, proprietary and graduate schools 212‑C
Teacher accreditation review fees 213
Extension of educational facilities 213‑B
Unlawful sale of dissertations, theses and term papers 214
Institutions in the university 215
Visitation and reports 215‑A
Annual report by regents to governor and legislature 215‑B
Annual report by commissioner to governor and legislature 215‑C
Promoting cost-effectiveness in public elementary and secondary schools 215‑D
State university of New York report on economic development activities 216
Charters 216‑A
Applicability of not-for-profit corporation law 216‑B
Private foundations, as defined in the United States internal revenue code of 1954: provisions included in the charter 216‑C
Special provisions for cutlery and knife museums that exhibit automatic knives 217
Provisional charters 218
Conditions of incorporation 219
Change of name or charter 220
Distribution of assets 221
Dissolution of educational institution by stockholders 222
Suspension of operations 223
Consolidation or merger of corporations 224
Prohibitions 224‑A
Students unable because of religious beliefs to register or attend classes on certain days 225
Unlawful acts in respect to examinations and records 226
Powers of trustees of institutions 227
Colleges may construct water-works and sewer systems 228
The Hamilton college sewer district 229
County educational institutions 230
Municipal training institute 231
Town and county officers training school 232
Departments and their government 233
State Museum 233‑A
Property of the state museum 233‑AA
Property of other museums 233‑B
New York state freedom trail commission 233‑C
Study 234
Indian collection 235
State science service 235‑A
New York state biodiversity research institute 235‑B
New York state biological survey 236
Public television and radio 237
Regents plan for higher education including approved plans of state university and city university of New York and plans of independent i... 238
Chair on geriatrics in the state university 238‑A
Statewide resource centers for geriatric education 239
Albert Einstein chairs in science and Albert Schweitzer chairs in the humanities 239‑A
Collection and distribution of student’s residual consumer goods 239‑B
Research dogs and cats
Green check means up to date. Up to date

Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 216-B’s source at nysenate​.gov

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