2014 New York Laws
BNK - Banking
Article 5-A - (210 - 220) NEW YORK BUSINESS DEVELOPMENT CORPORATION
210 - Establishment.

 210.  Establishment.  1. There is hereby created a corporation which
  shall be known as  the  "New  York  Business  Development  Corporation".
  Process  in  any  action  or  proceeding against such corporation may be
  served upon the secretary of state, as agent  of  such  corporation  for
  such  purpose.  If  such corporation fails to commence business by April
  first, nineteen hundred fifty-eight, its existence shall  terminate  and
  the provisions of this article shall become null and void.
2.  The  business  corporation  law  applies  to the New York Business
  Development Corporation, except that in case of a conflict  between  the
  business corporation law and this article the provisions of this article
  shall  govern.  If  there  is  in this article a provision relating to a
  matter embraced in the business corporation  law  and  not  in  conflict
  therewith,   both   provisions   shall  apply.  The  New  York  Business
  Development  Corporation  shall  be  treated  as  a  "corporation",   or
  "domestic   corporation",  as  such  terms  are  used  in  the  business
  corporation law, except that the purposes for which such corporation  is
  formed under this article shall not thereby be extended.
3.  For the purpose of this section and elsewhere in this article, the
  effective date of the business  corporation  law  as  to  the  New  York
  Business  Development  Corporation  shall  be  September first, nineteen
  hundred sixty-four.