New York § 508 Income from corporate activities

New York Statutes

§ 508 — Income from corporate activities

New York § 508

Law NPCNot-for-Profit Corporation

Art. 5Corporate Finance

This text of New York § 508 (Income from corporate activities) 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 § 508 (2026).

Text

§ 508. Income from corporate activities.\n  A corporation whose lawful activities involve among other things the\ncharging of fees or prices for its services or products shall have the\nright to receive such income and, in so doing, may make an incidental\nprofit. All such incidental profits shall be applied to the maintenance,\nexpansion or operation of the lawful activities of the corporation, and\nin no case shall be divided or distributed in any manner whatsoever\namong the members, directors, or officers of the corporation.\n

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§ 508. Income from corporate activities.\n A corporation whose lawful activities involve among other things the\ncharging of fees or prices for its services or products shall have the\nright to receive such income and, in so doing, may make an incidental\nprofit. All such incidental profits shall be applied to the maintenance,\nexpansion or operation of the lawful activities of the corporation, and\nin no case shall be divided or distributed in any manner whatsoever\namong the members, directors, or officers of the corporation.\n