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.
Structure New York Laws
NPC - Not-For-Profit Corporation
501 - Stock and Shares Prohibited; Membership Certificates Authorized.
502 - Members' Capital Contributions.
505 - Subvention Certificates.
506 - Bonds and Security Interests.
507 - Fees, Dues and Assessments; Fines and Penalties.
508 - Income From Corporate Activities.
509 - Purchase, Sale, Mortgage and Lease of Real Property.
510 - Disposition of All or Substantially All Assets.
511 - Petition for Court Approval.
511-A - Petition for Attorney General Approval.
513 - Administration of Assets Received for Specific Purposes.
514 - Delegation of Investment Management.
515 - Dividends Prohibited; Certain Distributions of Cash or Property Authorized.
516 - Distributions to Members Upon Termination of Membership.
519 - Annual Report of Directors.
519-A - Annual Reports for Certain Transactions Required.
521 - Liability for Failure to Disclose Required Information.