New York Banking Law Section 8002 - Reduction of capital stock by amendment.

 8002.  Reduction  of  capital  stock by amendment. A corporation may
  reduce its capital stock by an amendment of its organization certificate
  under section eight thousand one which:
1. Reduces the par value of any issued shares.
2. Changes issued shares under subdivision two (i)  of  section  eight
  thousand one and results in a reduction of capital stock.
3. Eliminates from authorized shares, shares that have been issued and
  reacquired by the corporation.

Last modified: February 3, 2019