N.Y. Cooperative Corporations Law 83 – Status as profit-making corporation
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§ 83. Status as profit-making corporation. Notwithstanding any inconsistent provisions of this chapter, no worker cooperative shall be classed as a non-profit or not-for-profit corporation.
Terms Used In N.Y. Cooperative Corporations Law 83
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.