§ 11. Reincorporation of joint corporations.

228 words·~1 min read·/ny/benevolent-orders/general-provisions/11

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

§ 11. Reincorporation of joint corporations. A corporation heretofore

organized, the members whereof represent lodges or bodies in any of the

benevolent or fraternal orders mentioned or described in section seven

hereof, may by a two-thirds vote of all its members present and voting

at a regular or regularly called meeting thereof, proceed to

reincorporate under this chapter with the same name and for the same

purposes for which it was originally organized. In thus proceeding to

reincorporate, the board of trustees or directors may be increased or

diminished within the limits prescribed by section seven hereof, but any

decrease in such membership shall not take effect so as to affect the

term of office of any trustee or director of the old corporation. Such

trustees or directors and the other officers of the old corporation

shall continue to serve as such under the reorganized corporation for

the term for which they were originally elected or appointed. Such

reorganization shall not effect a dissolution of the corporation, but

shall be deemed a continuation of its corporate existence without

affecting its property rights, or its liabilities, or the liabilities of

its members or officers as such; but thereafter it shall have only such

other rights, powers and privileges and be subject only to such other

duties and liabilities as a corporation created for the same purpose

under this chapter.