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ALCO GRAVURE v. KNAPP

64 N.Y.2d 458 (1985)

Alco Gravure, Inc., et al., Appellants, v. The Knapp Foundation, Respondent.

Court of Appeals of the State of New York.

Decided March 28, 1985.

Attorney(s) appearing for the Case

Joseph Calderon and Robert C. Harris for appellants.

John S. Siffert for respondent.

Chief Judge WACHTLER and Judges SIMONS and KAYE concur with Judge MEYER; Judge JASEN dissents and votes to order reargument in a separate opinion; Judge ALEXANDER taking no part.

MEYER, J.

Because the Not-For-Profit Corporation Law (N-PCL) provisions governing a Type B corporation1 expressly incorporate a quasi-cy pres principle with respect to both the administration and use of its assets (§ 513 [b]; § 522) and the transfer of its assets on dissolution (§ 1005 [a] [3] [A]; § 1008 [a] [15]), section 804 of that law, which permits amendment...

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