§ 210 — Establishment

New York § 210

• Jurisdiction: New York
• Law BNK: Banking
• Art. 5-A: New York Business Development Corporation

Text

§ 210. Establishment. 1. There is hereby created a corporation which\nshall be known as the "New York Business Development Corporation".\nProcess in any action or proceeding against such corporation may be\nserved upon the secretary of state, as agent of such corporation for\nsuch purpose. If such corporation fails to commence business by April\nfirst, nineteen hundred fifty-eight, its existence shall terminate and\nthe provisions of this article shall become null and void.\n 2. The business corporation law applies to the New York Business\nDevelopment Corporation, except that in case of a conflict between the\nbusiness corporation law and this article the provisions of this article\nshall govern. If there is in this article a provision relating to a\nmatter embraced in the business corporation law and not in conflict\ntherewith, both provisions shall apply. The New York Business\nDevelopment Corporation shall be treated as a "corporation", or\n"domestic corporation", as such terms are used in the business\ncorporation law, except that the purposes for which such corporation is\nformed under this article shall not thereby be extended.\n 3. For the purpose of this section and elsewhere in this article, the\neffective date of the business corporation law as to the New York\nBusiness Development Corporation shall be September first, nineteen\nhundred sixty-four.\n