New York Statutes
§ 5015 — Capital notes and debentures
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
§ 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
New York § 5015 (Capital notes and debentures) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.