New York § 5015 Capital notes and debentures

New York Statutes

§ 5015 — Capital notes and debentures

New York § 5015

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 § 5015 (Capital notes and debentures) 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 § 5015 (2026).

Text

  § 5015. Capital notes and debentures. No corporation shall issue\ncapital notes or debentures except for money or other property, tangible\nor intangible, or labor or services actually received by or performed\nfor the corporation or for its benefit or in its formation or\nreorganization, or a combination thereof.  In the absence of fraud in\nthe transaction, the judgment of the board as to the value of the\nconsideration received shall be conclusive.\n

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

§ 5015. Capital notes and debentures. No corporation shall issue\ncapital notes or debentures except for money or other property, tangible\nor intangible, or labor or services actually received by or performed\nfor the corporation or for its benefit or in its formation or\nreorganization, or a combination thereof. In the absence of fraud in\nthe transaction, the judgment of the board as to the value of the\nconsideration received shall be conclusive.\n