New York § 5013 Agreements for purchase by a corporation of its own shares

New York Statutes

§ 5013 — Agreements for purchase by a corporation of its own shares

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

  § 5013. Agreements for purchase by a corporation of its own shares. 1.\nAn agreement for the purchase by a corporation of its own shares shall\nbe enforceable by the stockholder and the corporation to the extent such\npurchase is permitted at the time of purchase by section five thousand\ntwelve.\n  2. The possibility that a corporation may not be able to purchase its\nshares under section five thousand twelve shall not be a ground for\ndenying to either party specific performance of an agreement for the\npurchase by a corporation of its own shares, if at the time for\nperformance the corporation can purchase all or part of such shares\nunder section five thousand twelve.\n

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§ 5013. Agreements for purchase by a corporation of its own shares. 1.\nAn agreement for the purchase by a corporation of its own shares shall\nbe enforceable by the stockholder and the corporation to the extent such\npurchase is permitted at the time of purchase by section five thousand\ntwelve.\n 2. The possibility that a corporation may not be able to purchase its\nshares under section five thousand twelve shall not be a ground for\ndenying to either party specific performance of an agreement for the\npurchase by a corporation of its own shares, if at the time for\nperformance the corporation can purchase all or part of such shares\nunder section five thousand twelve.\n

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