§ 11 — Reincorporation of joint corporations

New York § 11

• Jurisdiction: New York
• Law BVO: Benevolent Orders
• Art. 2: General Provisions

Text

§ 11. Reincorporation of joint corporations. A corporation heretofore\norganized, the members whereof represent lodges or bodies in any of the\nbenevolent or fraternal orders mentioned or described in section seven\nhereof, may by a two-thirds vote of all its members present and voting\nat a regular or regularly called meeting thereof, proceed to\nreincorporate under this chapter with the same name and for the same\npurposes for which it was originally organized. In thus proceeding to\nreincorporate, the board of trustees or directors may be increased or\ndiminished within the limits prescribed by section seven hereof, but any\ndecrease in such membership shall not take effect so as to affect the\nterm of office of any trustee or director of the old corporation. Such\ntrustees or directors and the other officers of the old corporation\nshall continue to serve as such under the reorganized corporation for\nthe term for which they were originally elected or appointed. Such\nreorganization shall not effect a dissolution of the corporation, but\nshall be deemed a continuation of its corporate existence without\naffecting its property rights, or its liabilities, or the liabilities of\nits members or officers as such; but thereafter it shall have only such\nother rights, powers and privileges and be subject only to such other\nduties and liabilities as a corporation created for the same purpose\nunder this chapter.\n