New York Statutes
§ 40 — Certificate of membership
New York § 40
This text of New York § 40 (Certificate of membership) 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. Cooperative Corporations § 40 (2026).
Text
§ 40. Certificate of membership. Every corporation shall issue to each\nmember, upon full payment therefor, a certificate of membership (whether\nevidenced by stock or otherwise) which shall not be transferable\notherwise than as may be prescribed in this chapter, the certificate of\nincorporation and by-laws. The corporation may accept as full or partial\npayment a member's promissory note, but shall hold the certificate as\nsecurity for payment, without, however, affecting the member's right to\nvote unless such note is past due.\n
Free access — add to your briefcase to read the full text and ask questions with AI
Cite This Page — Counsel Stack
Bluebook (online)
New York § 40, Counsel Stack Legal Research, https://law.counselstack.com/statute/ny/CCO/40.