N.Y. Not-for-Profit Corporation Law § 1321: Exemption from certain provisions

§ 1321. Exemption from certain provisions.

(a) Notwithstanding any other provision of this chapter, a foreign

corporation conducting activities in this state which is authorized

under this article, its directors, officers and members, shall be exempt

from the provisions of paragraph (e) of section 1317 (Voting trust

records), subparagraph (1) of paragraph (a) of section 1318 (Liabilities

of directors and officers of foreign corporations), and subparagraph (2)

of paragraph (a) of section 1320 (Applicability of other provisions) of

this article if such provision would otherwise apply:

(1) The corporation is a non-charitable corporation under this

chapter; its principal activities are conducted outside this state; the

greater part of its property is located outside this state; and less

than one third of its members are residents of this state; or

(2) The corporation is a charitable corporation under this chapter;

its principal activities are conducted outside this state; the greater

part of its property is located outside this state; and less than ten

per cent of its annual revenues is derived from solicitation of funds

within this state.