§ 622 — Infant members

New York § 622

• Jurisdiction: New York
• Law NPC: Not-for-Profit Corporation
• Art. 6: Members

Text

§ 622. Infant members.\n (a) If the certificate of incorporation or the by-laws provide that a\nmember shall be of full age:\n (1) A corporation may treat an infant who holds a membership\ncertificate or card or capital certificate or a bond of such corporation\nas having capacity to receive and to empower others to receive payments\nor distributions, to vote or express consent or dissent, in person or by\nproxy, and to make elections and exercise rights relating to such\ncertificates or bonds, unless, in the case of membership certificates or\ncards or capital certificates, the corporate officer responsible for\nmaintaining the list or record of members or the transfer agent of the\ncorporation or, in the case of bonds, the treasurer or paying officer or\nagent has received written notice that such holder is an infant.\n (2) An infant holder of a membership certificate or card or capital\ncertificate or a bond of a corporation who has received or empowered\nothers to receive payments or distributions, voted or expressed consent\nor dissent, or made an election or exercised a right relating thereto,\nshall have no right thereafter to disaffirm or avoid, as against the\ncorporation, any such act on his part, unless prior to such receipt,\nvote, consent, dissent, election or exercise, as to membership\ncertificates or cards or capital certificates, the corporate officer\nresponsible for maintaining the list or record of members or its\ntransfer agent or, in the case of bonds, the treasurer or paying officer\nor agent had received written notice that such holder was an infant.\n