IV. Laws Governing Education Corporations
Various provisions of the Education Law, including those cited in this pamphlet, govern the purposes, creation, regulation and dissolution of education corporations. One section (§226; see Appendix A) enumerates many of the powers of the trustees of an education corporation.
However, the Education Law does not provide definitive statutory guidance with respect to corporate operations. That body of statutory law is found in the Not-For-Profit Corporation Law (NPCL), many of the provisions of which are made applicable to education corporations by §216-a of the Education Law, effective September 1, 1973 (see Appendix A). The NPCL has thus replaced the General Corporation Law, which was subsequently repealed, as the underlying body of corporate statutory law applicable to education corporations.