N.Y. BSC Law § 1506
This is the official text of N.Y. BSC Law § 1506, part of New York’s BSC Law — part of the compiled statutory law of New York, published by the state as "BSC Law." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Purposes of incorporation
Official statutory text
§ 1506. Purposes of incorporation.\n No professional service corporation or design professional service\ncorporation shall engage in any business other than the rendering of the\nprofessional services for which it was incorporated; provided that such\ncorporation may invest its funds in real estate, mortgages, stocks,\nbonds or any other type of investments.\n
Status: in_force · Read it on the official government site
Need a lawyer in New York?
Find a New York lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.