The Laws Of The State Of New York Relating To Building Associations; Being The Statutes Governing…

Paperback | February 3, 2012

byWillis Seaver Paine

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1889. Excerpt: ... 4 UNINCORPORATED OR VOLUNTARY ASSOCIATIONS. the general law and cannot claim the privileges of the statutes enacted for those created by them. Melville r. American Benefit Building Association, 38 Barb. 108. They seem to be liable for usurious exaction of interest and cannot receive premiums. The criterion of legality between the members of a voluntary association is the constitution of the association and the by-laws, and the by-laws must not violate the spirit of the association. Powell v. Abbott, 9 W. N. C. (Pa.), 231. The transactions of such an association are consummated by the trustees, who hold the legal title to the property of the association. Voluntary associations may become incorporated by following the provisions of the special statutes governing these associations. See index. THE ACT OF 1851. "AN ACT FOE THE INCOEPOEATION OF BUILDING, MUTUAL LOAN, AND ACCUMULATING FUND ASSOCIATIONS." Chapter 122, Laws of 1851, AS AMENDED BY Chapter 564, Laws of 1875, AND Chapter 96, Laws of 1878. SECTION I. ASSOCIATIONS, HOW ORGANIZED--MINIMUM NUMBER OF INCORPORATORS--OBJECTS AND PURPOSES OF THESE CORPORATIONS. § 1. Any number of persons, not less than nine, may associate and form an incorporated company for the purpose of accumulating a fund for the purchase of real estate, the. erection of buildings, or the making of other improvements on lands, or to pay off incumbrances thereon, or to aid its members in acquiring real estate, making improvements thereon, and removing incumbrances therefrom; and for the further purpose of accumulating a fund to be returned to its members, who do not obtain advances as above mentioned, when the funds of such association shall amount to a certain sum per share, to be specified in the articles of association. The minim...

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1889. Excerpt: ... 4 UNINCORPORATED OR VOLUNTARY ASSOCIATIONS. the general law and cannot claim the privileges of the statutes enacted for those ...

Format:PaperbackDimensions:34 pages, 9.69 × 7.44 × 0.07 inPublished:February 3, 2012Publisher:General Books LLCLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0217392229

ISBN - 13:9780217392228

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