New York § 521 - 521Liability for failure to disclose required information
Full text of New York New York Consolidated Laws § 521 — 521Liability for failure to disclose required information, with citation guidance and answers to common questions.
§ 521. 521Liability for failure to disclose required information
§ 521. Liability for failure to disclose required information. Failure of the corporation to comply in good faith with the notice or disclosure or reporting provisions of section 501 (Stock and shares prohibited; membership certificates authorized), or paragraph (c) of section 503 (Capital certificates), or paragraph (c) of section 505 (Subvention certificates), or paragraph (b) of section 513 (Administration of assets received for specific purposes), or section 518 (Reports to comptroller), or section 519 (Annual report of directors), or section 520 (Reports of corporation), shall make the corporation liable for any damage sustained by any person in consequence thereof.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 521
What does New York Consolidated Laws § 521 cover?
Section 521 ("521Liability for failure to disclose required information") is part of the New York Consolidated Laws, the codified statutory law of New York. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New York § 521?
A common citation format is "New York Consolidated Laws § 521" (New York). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New York law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New York official source linked on this page or consult a licensed New York attorney.
How does New York § 521 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New York can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New York.