Home/New York/Statutes/Law BSC: Business Corporation/Art. 15: Professional Service Corporations/§ 1506
New York Statutes

§ 1506 — Purposes of incorporation

New York § 1506
JurisdictionNew York
Law BSCBusiness Corporation
Art. 15Professional Service Corporations

This text of New York § 1506 (Purposes of incorporation) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
N.Y. Business Corporation § 1506 (2026).

Text

§ 1506. Purposes of incorporation.\n No professional service corporation or design professional service\ncorporation shall engage in any business other than the rendering of the\nprofessional services for which it was incorporated; provided that such\ncorporation may invest its funds in real estate, mortgages, stocks,\nbonds or any other type of investments.\n

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Related

Charlebois v. J.M. Weller Associates, Inc.
531 N.E.2d 1288 (New York Court of Appeals, 1988)
72 case citations

Nearby Sections

15
§ 1501
Definitions
§ 1502
Corporations organized under other provisions of law
§ 1503
Organization
§ 1504
Rendering of professional service
§ 1505
Professional relationships and liabilities
§ 1506
Purposes of incorporation
§ 1507
Issuance of shares
§ 1508
Directors and officers
§ 1509
Disqualification of shareholders, directors, officers and employees
§ 1510
Death or disqualification of shareholders
§ 1511
Transfer of shares
§ 1512
Corporate name
§ 1513
Business corporation law applicable
§ 1514
Triennial statement
§ 1515
Regulation of professions
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Bluebook (online)
New York § 1506, Counsel Stack Legal Research, https://law.counselstack.com/statute/ny/BSC/1506.