New York § 5006 Compensation for formation, reorganization and financing

New York Statutes

§ 5006 — Compensation for formation, reorganization and financing

New York·Law BNK Banking·Title 5 Corporate Finance·Art. 15 General Provisions Applicable to Banking Stock Corporations, Limited Liability Investment Companies, and Limited Liability Trust Companies

  § 5006. Compensation for formation, reorganization and financing. The\nreasonable charges and expenses of formation or reorganization of a\ncorporation, and the reasonable expenses of and compensation for the\nsale or underwriting of its shares may be paid or allowed by the\ncorporation out of the consideration received by it in payment for its\nshares without thereby impairing the fully paid and nonassessable status\nof such shares as provided in subdivision eight of section five thousand\nfour.\n

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§ 5006. Compensation for formation, reorganization and financing. The\nreasonable charges and expenses of formation or reorganization of a\ncorporation, and the reasonable expenses of and compensation for the\nsale or underwriting of its shares may be paid or allowed by the\ncorporation out of the consideration received by it in payment for its\nshares without thereby impairing the fully paid and nonassessable status\nof such shares as provided in subdivision eight of section five thousand\nfour.\n

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