New York Cooperative Corporations Section 94 - Conversion Of Membership Shares And Internal Capital Accounts Upon Revocation Of Election; Consolidation Or Merger.

94. Conversion of membership shares and internal capital accounts upon revocation of election; consolidation or merger. When any worker cooperative revokes its election in accordance with section eighty-six of this article, an amendment of the certificate of incorporation shall provide for conversion of membership shares and internal capital accounts or their conversion to securities or other property in a manner consistent with the provisions of the business corporation law.


Section: Previous  81  82  83  84  85  86  87  88  89  90  91  92  93  94  

Last modified: September 11, 2016