Section 521. Liability for failure to disclose required information  


Latest version.
  • 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.