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The New York State Constitution, Art.X, sec. 5, provides that public benefit corporations may only be created by special act of the legislature. In City of Rye v. MTA, 24 N.Y.2d 627 (1969), the court of appeals explained that "The debates of the 1938 Convention indicate that the proliferation of public authorities after 1927 was the reason for the enactment of section 5 of article X....
New York uses a system called "continuous codification" whereby each session law clearly identifies the law and section of the Consolidated Laws affected by its passage. [ 3 ] [ 4 ] Unlike civil law codes , the Consolidated Laws are systematic but neither comprehensive nor preemptive, and reference to other laws and case law is often necessary ...
The Model Nonprofit Corporation Act (MNCA) is a model act prepared by the Nonprofit Organizations Committee of the Business Law Section of the American Bar Association. [1] The MNCA is a model set of statutes governing nonprofit corporations proposed for adoption by state legislatures.
It was signed into law in 1955 as the Limited-Profit Housing Companies Law. [2] [3] It was later recodified as article II of the 1961 Private Housing Finance Law.[7] [8] Article II Limited-Profit Housing Companies refer to not-for-profit corporations, whereas article IV Limited Dividend Housing Companies refer to non-Mitchell–Lama affordable housing organized since 1927 as business ...
Pursuant to the state constitution, the New York State Legislature has enacted legislation, called chapter laws or slip laws when printed separately. [2] [3] [4] The bills and concurrent resolutions proposing amendments to the state or federal constitutions of each legislative session are called session laws and published in the official Laws of New York.
A public-benefit nonprofit corporation [1] is a type of nonprofit corporation chartered by a U.S. state government and organized primarily or exclusively for social, educational, recreational or charitable purposes by like-minded citizens.
The New York Codes, Rules and Regulations (NYCRR) contains New York state rules and regulations. [1] The NYCRR is officially compiled by the New York State Department of State 's Division of Administrative Rules.
During 2009, the federal government enacted new legislation repealing the Canada Corporations Act, Part II – the Canada Not-for-Profit Corporations Act. This Act was last amended on 10 October 2011, and the act was current until 4 March 2013. [19]