Legislation
SECTION 508
Income from corporate activities
Not-for-Profit Corporation (NPC) CHAPTER 35, ARTICLE 5
§ 508. Income from corporate activities.
A corporation whose lawful activities involve among other things the
charging of fees or prices for its services or products shall have the
right to receive such income and, in so doing, may make an incidental
profit. All such incidental profits shall be applied to the maintenance,
expansion or operation of the lawful activities of the corporation, and
in no case shall be divided or distributed in any manner whatsoever
among the members, directors, or officers of the corporation.
A corporation whose lawful activities involve among other things the
charging of fees or prices for its services or products shall have the
right to receive such income and, in so doing, may make an incidental
profit. All such incidental profits shall be applied to the maintenance,
expansion or operation of the lawful activities of the corporation, and
in no case shall be divided or distributed in any manner whatsoever
among the members, directors, or officers of the corporation.