N.Y. Education Law § 218: Conditions of incorporation

§ 218. Conditions of incorporation. 1. No institution shall be given

power to confer baccalaureate or higher degrees in this state unless it

shall have financial resources which, in the judgment of the regents,

are adequate to insure satisfactory conduct of its degree program and

achievement of its stated educational goals; and no institution for

higher education shall be incorporated without suitable provision,

approved by the regents, for educational resources and programs. No

institution shall institute or have any faculty or department of

education in any place or be given power to confer any degree not

specifically authorized by its charter; and no corporation shall, under

authority of any general act, extend its business to include

establishing or carrying on any educational institution or work, without

the consent of the board of regents.

2. No institution shall be given power to confer associate degrees in

this state unless it shall possess financial resources which, in the

judgment of the regents, are adequate to insure satisfactory conduct of

its degree programs and achievement of its stated educational goals.