N.Y. Not-for-Profit Corporation Law § 521: Liability for failure to disclose required information

§ 521. Liability for failure to disclose required information.

Failure of the corporation to comply in good faith with the notice or

disclosure or reporting provisions of section 501 (Stock and shares

prohibited; membership certificates authorized), or paragraph (c) of

section 503 (Capital certificates), or paragraph (c) of section 505

(Subvention certificates), or paragraph (b) of section 513

(Administration of assets received for specific purposes), or section

518 (Reports to comptroller), or section 519 (Annual report of

directors), or section 520 (Reports of corporation), shall make the

corporation liable for any damage sustained by any person in consequence

thereof.