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

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    § 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.

Last modified: August 9, 2006