New York Banking Law Section 5006 - Compensation for formation, reorganization and financing.

 5006.  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 as provided in subdivision eight of section five thousand
  four.

Last modified: February 3, 2019