Section 1701
Application and Effect of Article

1701. Application and effect of article.

(a)

This article shall be applicable to all benefit corporations.

(b)

The existence of a provision of this article shall not of itself create any implication that a contrary or different rule of law is or would be applicable to a business corporation that is not a benefit corporation. This article shall not affect any statute or rule of law that is or would be applicable to a business corporation that is not a benefit corporation.

(c)

Except as otherwise provided in this article, this chapter shall be applicable to all benefit corporations. The specific provisions of this article shall control over the general provisions of this chapter.

(d)

A provision of the certificate of incorporation or bylaws of a benefit corporation may not relax, be inconsistent with or supersede any provision of this article.

Location: https://www.weblaws.org/new_york/laws/n.y._business_corporation_law_section_1701.

Original source: https://­www.­nysenate.­gov/­legislation/­laws/­BSC/­1701 External link icon (last accessed December 13, 2016).