§ 59.05. The American Museum of Natural History Planetarium Authority.
The trustees of The American Museum of Natural History, a corporation
created by chapter one hundred and nineteen of the laws of eighteen
hundred sixty-nine, and their successors in such office shall appoint no
less than three nor more than five individuals to serve as members of
the board of directors of the Planetarium Authority for terms of one to
three years (as determined by the trustees of the American Museum of
Natural History), and which is hereby continued as a body corporate by
the name of "The American Museum of Natural History Planetarium
Authority," to be located in the city of New York, for the purpose of
establishing and maintaining in such city a planetarium upon a site
provided by the authorities of such city adjacent to The American Museum
of Natural History in such city; of encouraging and developing the study
of astronomical science; of advancing the general knowledge of kindred
subjects, and to that end, of furnishing popular instruction. Such
authority shall constitute a public benefit corporation.

Each member of the board of the Planetarium Authority shall be
independent of the Planetarium Authority and of the American Museum of
Natural History as described in the public authorities law; and the
American Museum of Natural History shall not be considered an affiliate
of the Planetarium Authority.

The board of the Planetarium Authority may appoint an executive
director. The members of the board and the executive director of the
Planetarium Authority shall serve pro bono and shall be entitled to no
compensation for their services or reimbursement for expenses incurred
or to be incurred in connection with the planetarium hereby authorized.
A majority of the members of the board of the Planetarium Authority
shall constitute a quorum at any meeting of the board, and a majority of
the members present at a meeting of the board at which there is a quorum
may exercise the powers of the authority. The board of the Planetarium
Authority may delegate to one or more of its members or to its officers,
any such powers and duties as it may deem proper. The Planetarium
Authority shall continue the lease with the American Museum of Natural
History for the exclusive occupancy, operation and use of the
planetarium by the American Museum of Natural History for the purpose of
carrying out the purposes set forth above and related purposes, all upon
the obligation of the American Museum of Natural History to keep the
planetarium in reasonable repair, and to maintain and operate the
planetarium, which lease may be of indefinite duration terminable only
upon surrender of the lease by the direction and authorization of the
board of trustees of the American Museum of Natural History.

The existence of the Planetarium Authority shall continue until
dissolved by its board, provided that all its liabilities have been met
and its bonds have been paid in full or such liabilities or bonds have
been discharged and provided further that the Planetarium Authority's
lease to the American Museum of Natural History shall have been
surrendered by the American Museum of Natural History. Notwithstanding
the foregoing, the Planetarium Authority shall be dissolved when the
American Museum of Natural History surrenders its lease of the
planetarium to the Planetarium Authority, provided that all its
liabilities have been met and its bonds have been paid in full or such
liabilities or bonds have been discharged or assumed by the American
Museum of Natural History. Upon its ceasing to exist, all of its real
property shall pass to the city of New York and all of its personal
property shall pass to The American Museum of Natural History for its
corporate purposes. Thereupon, such real property shall be maintained
and operated in the same manner and subject to the same provisions,
restrictions and authorities and by the same corporation as the other
property of the city of New York which is now occupied by The American
Museum of Natural History.