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2013 New York Consolidated Laws
NPC - Not-For-Profit Corporation
Article 5 - (501 - 521) CORPORATE FINANCE
509 - Purchase, sale, mortgage and lease of real property.


NY Not for Profit Corp L § 509 (2012) What's This?
 
  § 509. Purchase, sale, mortgage and lease of real property.
    No  purchase  of  real  property shall be made by a corporation and no
  corporation  shall  sell,  mortgage  or  lease  real  property,   unless
  authorized  by the vote of two-thirds of the entire board, provided that
  if there are twenty-one or more directors, the vote of a majority of the
  entire board shall be sufficient.

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