§ 216-a. Applicability of not-for-profit corporation law. 1. The term\n"education corporation" as used in this section means a corporation (a)\nchartered or incorporated by the regents or otherwise formed under this\nchapter, or (b) formed by a special act of this state with its principal\npurpose an education purpose and which is a member of the university of\nthe state of New York, or (c) formed under laws other than the statutes\nof this state which, if it were to be formed currently under the laws of\nthis state, might be chartered by the regents, and which has been\nauthorized to conduct its activities in this state by the regents or as\nan authorized foreign education corporation with the consent of the\ncommissioner. A corporation as defined in the business corporation law\nis not an education corporation under this section.\n 2. An education corporation formed prior to September first, nineteen\nhundred seventy-three which has authority to issue stock, is subject to\nthe business corporation law in all matters involving shares of stock.\nTo that extent, the not-for-profit corporation law does not apply to\nsuch education corporation.\n 3. A corporation within clause (c) of subdivision one of this section\n(a) may be granted authority to conduct activities in this state by the\nregents pursuant to this section and subject to such provisions, not\ninconsistent with this section, as the regents may prescribe, or (b)\nwith the consent of the commissioner, may receive authority under\narticle 13 (Foreign Corporations) of the not-for-profit corporation law\nto conduct activities in this state as an authorized foreign\nnot-for-profit corporation. If required by the commissioner and subject\nto such provisions, not inconsistent with this section, as he may\nprescribe, an authorized foreign not-for-profit corporation shall be\ndesignated as an "authorized foreign education corporation" in its\ncertificate of authority filed with the department of state. A foreign\ncorporation granted authority by the regents hereunder or an "authorized\nforeign education corporation" is an "education corporation" under this\nsection.\n 4. Except as provided in subdivisions 2 and 3 of this section, the\nnot-for-profit corporation law applies to a domestic education\ncorporation and an authorized foreign education corporation, provided\nthat:\n a. If a provision of the not-for-profit corporation law conflicts with\na provision of this chapter or of a special act by which an education\ncorporation is formed, the provision of this chapter or of such special\nact shall prevail and the not-for-profit corporation law shall not apply\nin such case. If an applicable provision of this chapter or of such\nspecial act relates to a matter embraced in the not-for-profit\ncorporation law but is not in conflict therewith, both provisions shall\napply.\n b. An education corporation to which the not-for-profit corporation\nlaw is made applicable by this section shall be treated as a "corp-\noration", "domestic corporation", "foreign corporation", or "authorized\nforeign corporation" as such terms are used in the not-for-profit\ncorporation law as modified by this section, except that the purposes of\nan education corporation shall not thereby be extended.\n c. The following provisions of the not-for-profit corporation law\nshall not apply to education corporations: section one hundred five,\nsection one hundred fourteen, paragraph (a) of section two hundred one,\nparagraphs (b) and (c) of section two hundred two, section two hundred\nfive, section three hundred one, section three hundred two, section\nthree hundred three, article four except paragraphs (b) through (p) of\nsection four hundred four and section four hundred five, section five\nhundred nine, article eight except section eight hundred four, section\nnine hundred seven, section one thousand twelve and article fourteen.\n d. The following adjusting provisions shall apply in the application\nof
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