New York § 5011 Redeemable shares

New York Statutes

§ 5011 — Redeemable shares

New York § 5011

Law BNKBanking

Title 5Corporate Finance

Art. 15General Provisions Applicable to Banking Stock Corporations, Limited Liability Investment Companies, and Limited Liability Trust Companies

This text of New York § 5011 (Redeemable shares) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Banking § 5011 (2026).

Text

§ 5011. Redeemable shares.

1.A corporation may provide in its\norganization certificate for a class of common shares in relation to an\nincentive stock option plan pursuant to section one hundred forty-a of\nthis chapter and for one or more classes or series of preferred shares\nwhich are redeemable, in whole or in part, at the option of the\ncorporation at such price or prices, within such period or periods and\nunder such conditions as are stated in the organization certificate.\n 2. A corporation shall not issue redeemable or other shares which\npurport by their terms to grant to any holder thereof the right to\ncompel the corporation to redeem such shares.\n 3. Nothing in this section shall prevent a corporation from creating\nsinking funds for the redemption or purchase of its p

Free access — add to your briefcase to read the full text and ask questions with AI

§ 5011. Redeemable shares. 1. A corporation may provide in its\norganization certificate for a class of common shares in relation to an\nincentive stock option plan pursuant to section one hundred forty-a of\nthis chapter and for one or more classes or series of preferred shares\nwhich are redeemable, in whole or in part, at the option of the\ncorporation at such price or prices, within such period or periods and\nunder such conditions as are stated in the organization certificate.\n 2. A corporation shall not issue redeemable or other shares which\npurport by their terms to grant to any holder thereof the right to\ncompel the corporation to redeem such shares.\n 3. Nothing in this section shall prevent a corporation from creating\nsinking funds for the redemption or purchase of its preferred shares to\nthe extent permitted by section five thousand twelve.\n