New York § 908 Guarantee authorized by shareholders

New York Statutes

§ 908 — Guarantee authorized by shareholders

New York § 908

Law BSCBusiness Corporation

Art. 9Merger or Consolidation; Guarantee; Disposition of Assets; Share Exchanges

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Bluebook

N.Y. Business Corporation § 908 (2026).

Text

§ 908. Guarantee authorized by shareholders.\n  A guarantee may be given by a corporation, although not in furtherance\nof its corporate purposes, when authorized at a meeting of shareholders\nby two-thirds of the votes of all outstanding shares entitled to vote\nthereon. If authorized by a like vote, such guarantee may be secured by\na mortgage or pledge of, or the creation of a security interest in, all\nor any part of the corporate property, or any interest therein, wherever\nsituated.\n

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§ 908. Guarantee authorized by shareholders.\n A guarantee may be given by a corporation, although not in furtherance\nof its corporate purposes, when authorized at a meeting of shareholders\nby two-thirds of the votes of all outstanding shares entitled to vote\nthereon. If authorized by a like vote, such guarantee may be secured by\na mortgage or pledge of, or the creation of a security interest in, all\nor any part of the corporate property, or any interest therein, wherever\nsituated.\n