N.Y. ACA Law § 59.05 — New York Code / Act ACA / Title V / Article 59 / Section 59.05
The American Museum of Natural History Planetarium Authority
Status: in_force

§ 59.05. The American Museum of Natural History Planetarium Authority.\nThe trustees of The American Museum of Natural History, a corporation\ncreated by chapter one hundred and nineteen of the laws of eighteen\nhundred sixty-nine, and their successors in such office shall appoint no\nless than three nor more than five individuals to serve as members of\nthe board of directors of the Planetarium Authority for terms of one to\nthree years (as determined by the trustees of the American Museum of\nNatural History), and which is hereby continued as a body corporate by\nthe name of "The American Museum of Natural History Planetarium\nAuthority," to be located in the city of New York, for the purpose of\nestablishing and maintaining in such city a planetarium upon a site\nprovided by the authorities of such city adjacent to The American Museum\nof Natural History in such city; of encouraging and developing the study\nof astronomical science; of advancing the general knowledge of kindred\nsubjects, and to that end, of furnishing popular instruction. Such\nauthority shall constitute a public benefit corporation.\n  Each member of the board of the Planetarium Authority shall be\nindependent of the Planetarium Authority and of the American Museum of\nNatural History as described in the public authorities law; and the\nAmerican Museum of Natural History shall not be considered an affiliate\nof the Planetarium Authority.\n  The board of the Planetarium Authority may appoint an executive\ndirector. The members of the board and the executive director of the\nPlanetarium Authority shall serve pro bono and shall be entitled to no\ncompensation for their services or reimbursement for expenses incurred\nor to be incurred in connection with the planetarium hereby authorized.\nA majority of the members of the board of the Planetarium Authority\nshall constitute a quorum at any meeting of the board, and a majority of\nthe members present at a meeting of the board at which there is a quorum\nmay exercise the powers of the authority. The board of the Planetarium\nAuthority may delegate to one or more of its members or to its officers,\nany such powers and duties as it may deem proper. The Planetarium\nAuthority shall continue the lease with the American Museum of Natural\nHistory for the exclusive occupancy, operation and use of the\nplanetarium by the American Museum of Natural History for the purpose of\ncarrying out the purposes set forth above and related purposes, all upon\nthe obligation of the American Museum of Natural History to keep the\nplanetarium in reasonable repair, and to maintain and operate the\nplanetarium, which lease may be of indefinite duration terminable only\nupon surrender of the lease by the direction and authorization of the\nboard of trustees of the American Museum of Natural History.\n  The existence of the Planetarium Authority shall continue until\ndissolved by its board, provided that all its liabilities have been met\nand its bonds have been paid in full or such liabilities or bonds have\nbeen discharged and provided further that the Planetarium Authority's\nlease to the American Museum of Natural History shall have been\nsurrendered by the American Museum of Natural History. Notwithstanding\nthe foregoing, the Planetarium Authority shall be dissolved when the\nAmerican Museum of Natural History surrenders its lease of the\nplanetarium to the Planetarium Authority, provided that all its\nliabilities have been met and its bonds have been paid in full or such\nliabilities or bonds have been discharged or assumed by the American\nMuseum of Natural History. Upon its ceasing to exist, all of its real\nproperty shall pass to the city of New York and all of its personal\nproperty shall pass to The American Museum of Natural History for its\ncorporate purposes. Thereupon, such real property shall be maintained\nand operated in the same manner and subject to the same provisions,\nrestrictions and authorities and by the same corporation as the other\nproperty of the city of New York which is now occupied by The American\nMuseum of Natural History.\n