Legal Research Home > New York Lawyer > Business Corporations > New York Business Corporations Law Section 507 - Compensation For Formation, Reorganization And Financing.




  § 507. Compensation for formation, reorganization and financing.
    The  reasonable charges and expenses of formation or reorganization of
  a corporation, and the reasonable expenses of and compensation  for  the
  sale  or  underwriting  of  its  shares  may  be  paid or allowed by the
  corporation out of the consideration received by it in payment  for  its
  shares without thereby impairing the fully paid and nonassessable status
  of such shares.

Last modified: August 9, 2006