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This entry was published on 2014-09-22
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SECTION 210
Establishment
Banking (BNK) CHAPTER 2, ARTICLE 5-A
§ 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.