There Is a Newer Version of the New York Consolidated Laws
2012 New York Consolidated Laws
NPC - Not-For-Profit Corporation
Article 5 - (501 - 521) CORPORATE FINANCE
521 - Liability for failure to disclose required information.
NY Not for Profit Corp L § 521 (2012) What's This?
§ 521. Liability for failure to disclose required information.
Failure of the corporation to comply in good faith with the notice or
disclosure or reporting provisions of section 501 (Stock and shares
prohibited; membership certificates authorized), or paragraph (c) of
section 503 (Capital certificates), or paragraph (c) of section 505
(Subvention certificates), or paragraph (b) of section 513
(Administration of assets received for specific purposes), or section
518 (Reports to comptroller), or section 519 (Annual report of
directors), or section 520 (Reports of corporation), shall make the
corporation liable for any damage sustained by any person in consequence
thereof.
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