Statute · New York General Associations Law
N.Y. Gen. Ass'ns Law § 6 — Power to take and convey real property
N.Y. Gen. Ass'ns Law § 6
- Type
- Statute
- Source
- New York General Associations Law
- Jurisdiction
- New York
- Current through
- Nov 4, 2026 (NY Senate Open Legislation)
§ 6. Power to take and convey real property. A joint-stock association, in the name of its president, as such president, may purchase, take, hold and convey such real property only,
Citator
N.Y. Gen. Ass'ns Law § 6 — Power to take and convey real property is in force in the current edition of the Code, and nothing recorded condemns it.
§ 6. Power to take and convey real property. A joint-stock association, in the name of its president, as such president, may purchase, take, hold and convey such real property only,
1. As may be necessary for its immediate accommodation in the convenient transaction of its business.
2. As may be mortgaged to it in good faith by way of security for loans made by or moneys due to it.
3. As it may purchase at sales under judgments, decrees or mortgages held by it.