New York Codes, Rules and Regulations
Title 8 - EDUCATION DEPARTMENT
Chapter I - Rules of the Board Of Regents
Part 3 - University Of The State Of New York; State Education Department
Section 3.26 - Consent to incorporation
Current through Register Vol. 44, No. 38, September 21, 2022
Education Law, § 216
The commissioner, pursuant to Education Law section 216, may consent to the formation of a corporation under the Business Corporation Law, and to the amendment of the certificate of incorporation of a corporation so formed, whose purposes include the operation of a school or schools offering instruction in any of the grades 1 through 12, including instruction for the handicapped, or offering instruction at the kindergarten or prekindergarten level, if the proposed certificate of incorporation or amendment thereof specifically states that:
(a) The corporation and any school or educational program which it may conduct shall be subject to and comply with all of the statutory provisions, rules of the Regents and regulations of the commissioner which would be applicable to a corporation created by the Regents pursuant to section 216 of the Education Law for the same purpose or purposes.
(b) Within 30 days after receipt by the corporation of an order of the Board of Regents directing such action, the holders of a majority of all the outstanding shares of the corporation entitled to vote upon an amendment of the certificate of incorporation will cause to be filed with the Secretary of State a certificate of amendment to the certificate of incorporation deleting therefrom all provisions authorizing the corporation to operate such a school or schools, and changing the corporate name, if necessary, to delete therefrom any word or words which indicate that the corporation operates such a school or schools. Such an order of the Board of Regents shall be made only upon the same grounds and after the same procedures as are applicable to the revocation of a charter granted by the Regents pursuant to section 216 of the Education Law for the purpose of authorizing the corporation thereby created to operate a school or schools.