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This entry was published on 2014-09-22
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SECTION 201
Purposes
Not-for-Profit Corporation (NPC) CHAPTER 35, ARTICLE 2
§ 201. Purposes.

(a) A corporation, as defined in paragraph (a) of § 102 (Definitions),
may be formed under this chapter as a charitable corporation or a
non-charitable corporation unless it may be formed under any other
corporate law of this state, in which event it may not be formed under
this chapter unless such other corporate law expressly so provides.

(b) A corporation formed under this chapter on or after July first,
two thousand fourteen shall either be a charitable corporation or a
non-charitable corporation. Any corporation formed for both charitable
purposes and non-charitable purposes shall be deemed a charitable
corporation for purposes of this chapter. A type A not-for-profit
corporation formed prior to July first, two thousand fourteen shall be
deemed a non-charitable corporation under this chapter. Any submission
or filing by such corporation to any person or entity shall be deemed to
have been submitted or filed by a non-charitable corporation, and any
reference in any such filing or submission referring to the status of
such corporation as a type A corporation shall be deemed to refer to a
non-charitable corporation.

(c) A type B or C not-for-profit corporation formed prior to July
first, two thousand fourteen shall be deemed a charitable corporation
for all purposes under this chapter. Any submission or filing by such
corporation to any person or entity shall be deemed to have been
submitted or filed by a charitable corporation, and any reference in any
such filing or submission referring to the status of such corporation as
a type B or type C corporation shall be deemed to refer to a charitable
corporation.

(d) A type D not-for-profit corporation formed prior to July first,
two thousand fourteen for charitable purposes shall be deemed a
charitable corporation. Any submission or filing by such corporation to
any person or entity shall be deemed to have been submitted or filed by
a charitable corporation, and any reference in any such filing or
submission referring to the status of such corporation as a type D
corporation shall be deemed to refer to a charitable corporation. Any
other type D not-for-profit corporations formed prior to July first, two
thousand fourteen shall be deemed a non-charitable corporation. Any
submission or filing by such corporation to any person or entity shall
be deemed to have been submitted or filed by a non-charitable
corporation, and any reference in any such filing or submission
referring to the status of such corporation as a type D corporation
shall be deemed to refer to a non-charitable corporation.