N.Y. Public Authorities Law 3105 – Public purpose of the corporation
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§ 3105. Public purpose of the corporation. The corporation is created and shall be operated exclusively for public purposes and not for pecuniary profit. No part of the net earnings of the corporation shall inure to the benefit of any private individual.
Terms Used In N.Y. Public Authorities Law 3105
- 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.