Legal Question in Business Law in New York
non profit
If I start a non profit, can I transfer the money left in the for profit bank account to the non profit as start up money?
Asked on 4/15/09, 8:06 pm
1 Answer from Attorneys
Michael Markowitz
Michael A. Markowitz, PC
Re: non profit
Yes. It would be deemed a capital contribution to the not for profit corporation.
Mike.
Answered on 4/16/09, 8:01 am
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