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  3. Not-for-Profit Corp. Law
  4. Art. 5

Article 5
Corporate Finance

Sections

501
Stock and shares prohibited
502
Members' capital contributions
503
Capital certificates
504
Subventions
505
Subvention certificates
506
Bonds and security interests
507
Fees, dues and assessments
508
Income from corporate activities
509
Purchase, sale, mortgage and lease of real property
510
Disposition of all or substantially all assets
511
Petition for court approval
511‑A
Petition for attorney general approval
513
Administration of assets received for specific purposes
514
Delegation of investment management
515
Dividends prohibited
516
Distributions to members upon termination of membership
517
Liabilities of members
519
Annual report of directors
519‑A
Annual reports for certain transactions required
520
Reports of corporation
521
Liability for failure to disclose required information
 



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Location: https://newyork.public.law/laws/n.y._not-for-profit_corporation_law_article_5

Blank Outline Levels

The legislature occasionally skips outline levels. For example:

(3) A person may apply [...]
(4)(a) A person petitioning for relief [...]

In this example, (3), (4), and (4)(a) are all outline levels, but (4) was omitted by its authors. It's only implied. This presents an interesting challenge when laying out the text. We've decided to display a blank section with this note, in order to aide readability.

Trust but verify.

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