New York § 802 Reduction of stated capital by amendment

New York Statutes

§ 802 — Reduction of stated capital by amendment

New York § 802

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Art. 8Amendments and Changes

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Bluebook

N.Y. Business Corporation § 802 (2026).

Text

§ 802. Reduction of stated capital by amendment.\n  (a) A corporation may reduce its stated capital by an amendment of its\ncertificate of incorporation under section 801 (Right to amend\ncertificate of incorporation) which:\n  (1) Reduces the par value of any issued shares with par value.\n  (2) Changes issued shares under subparagraph (b) (11) of section 801\nthat results in a reduction of stated capital.\n  (3) Removes from authorized shares, shares that have been issued,\nreacquired and cancelled by the corporation.\n  (b) This section shall not prevent a corporation from reducing its\nstated capital in any other manner permitted by this chapter.\n

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§ 802. Reduction of stated capital by amendment.\n (a) A corporation may reduce its stated capital by an amendment of its\ncertificate of incorporation under section 801 (Right to amend\ncertificate of incorporation) which:\n (1) Reduces the par value of any issued shares with par value.\n (2) Changes issued shares under subparagraph (b) (11) of section 801\nthat results in a reduction of stated capital.\n (3) Removes from authorized shares, shares that have been issued,\nreacquired and cancelled by the corporation.\n (b) This section shall not prevent a corporation from reducing its\nstated capital in any other manner permitted by this chapter.\n