New York § 1407 Alumni corporations

New York Statutes

§ 1407 — Alumni corporations

New York § 1407

Law NPCNot-for-Profit Corporation

Art. 14Special Not-for-profit Corporations

This text of New York § 1407 (Alumni corporations) 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. Not-for-Profit Corporation § 1407 (2026).

Text

§ 1407. Alumni corporations.\n  (a) Alumni may be incorporated.\n  The alumni of any college or university, or of one or more colleges or\nschools of any university, may be incorporated by executing and filing a\ncertificate pursuant to article 4 of this chapter.\n  (b) Type of corporation.\n  An alumni corporation is a charitable corporation.\n  (c) Powers.\n  An alumni corporation may create, manage and control a fund, to be\nknown as the alumni fund, and for that purpose acquire and hold real and\npersonal property. The principal of such fund, or the income derived\ntherefrom, may be transferred to the college or university with which\nsuch corporation is identified, or used for and applied to such object\nor objects connected with such college or university as such alumni\ncorporation 

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§ 1407. Alumni corporations.\n (a) Alumni may be incorporated.\n The alumni of any college or university, or of one or more colleges or\nschools of any university, may be incorporated by executing and filing a\ncertificate pursuant to article 4 of this chapter.\n (b) Type of corporation.\n An alumni corporation is a charitable corporation.\n (c) Powers.\n An alumni corporation may create, manage and control a fund, to be\nknown as the alumni fund, and for that purpose acquire and hold real and\npersonal property. The principal of such fund, or the income derived\ntherefrom, may be transferred to the college or university with which\nsuch corporation is identified, or used for and applied to such object\nor objects connected with such college or university as such alumni\ncorporation shall direct.\n (d) Alumni fund.\n The directors of an alumni corporation shall have the custody and\nmanagement of the alumni fund but shall not dispose of the whole or any\npart of the principal of any invested fund except as authorized by a\ntwo-thirds vote of the members of such corporation, present at an annual\nmeeting thereof.\n