New York § 216 Capital stock

New York Statutes

§ 216 — Capital stock

New York·Law BNK Banking·Art. 5-A New York Business Development Corporation

  § 216. Capital stock. The capital stock of such corporation shall be\nfive hundred thousand shares of common and preferred stock, in such\namounts as shall be established in the by-laws by the board of\ndirectors, with the preferred stock having such relative rights,\npreferences and limitations as shall be established in the by-laws by\nthe board of directors.  At least a majority of the capital stock of\nsuch corporation shall at all times be held by residents of the state or\nby persons, firms or corporations engaged in doing business therein.\n

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

§ 216. Capital stock. The capital stock of such corporation shall be\nfive hundred thousand shares of common and preferred stock, in such\namounts as shall be established in the by-laws by the board of\ndirectors, with the preferred stock having such relative rights,\npreferences and limitations as shall be established in the by-laws by\nthe board of directors. At least a majority of the capital stock of\nsuch corporation shall at all times be held by residents of the state or\nby persons, firms or corporations engaged in doing business therein.\n

New York § 216 (Capital stock) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.