New York Banking Law Title 5 - Corporate Finance

• 5001 - Authorized Shares.
  1. Every corporation shall have power to create and issue the number of shares stated in its organization certificate. Such shares may be all of...
• 5002 - Issue of Any Class of Preferred Shares in Series.
  1. If the organization certificate so provides, a corporation may issue any class of preferred shares in series. Shares of each such series, when issued,...
• 5003 - Subscription for Shares; Time of Payment, Forfeiture for Default.
  1. Unless otherwise provided by the terms of the subscription, a subscription for shares of a corporation to be formed shall be irrevocable, except with...
• 5004 - Consideration and Payment for Shares.
  1. Consideration for the issue of shares shall consist of money or (except as otherwise required by subdivision a of subdivision one of section four...
• 5005 - Transferable Rights to Purchase Shares; Imposition of Restrictions or Conditions Thereon.
  1. Except as otherwise provided in this section or in the organization certificate, a corporation may create and issue, whether or not in connection with...
• 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...
• 5007 - Certificates Representing Shares.
  1. The shares of a corporation shall be represented by certificates or shall be uncertificated shares. Certificates shall be signed by the chairman or a...
• 5008 - Fractions of a Share or Scrip Authorized.
  1. a. A corporation may, but shall not be obliged to, issue fractions of a share either represented by a certificate or uncertificated, which may...
• 5009 - Dividends or Other Distributions in Cash or Property.
  Subject to sections one hundred ten, one hundred twelve and five hundred seventeen of this chapter, a corporation may declare and pay dividends or make...
• 5010 - Share Distributions and Changes.
  1. A corporation may make pro rata distributions of its authorized but unissued shares to holders of any class or series of its outstanding shares,...
• 5011 - Redeemable Shares.
  1. A corporation may provide in its organization certificate for a class of common shares in relation to an incentive stock option plan pursuant to...
• 5012 - Purchase or Redemption by a Corporation of Its Own Shares.
  1. A corporation may purchase its own shares, or pay stockholders entitled to receive payment for their shares, when permitted or required under any other...
• 5013 - Agreements for Purchase by a Corporation of Its Own Shares.
  1. An agreement for the purchase by a corporation of its own shares shall be enforceable by the stockholder and the corporation to the extent...
• 5014 - Reacquired Shares.
  1. Shares that have been issued and have been reacquired under subdivision one of section five thousand twelve shall, subject to other applicable provisions of...
• 5015 - Capital Notes and Debentures.
  No corporation shall issue capital notes or debentures except for money or other property, tangible or intangible, or labor or services actually received by or...
• 5016 - Convertible Shares, Capital Notes and Debentures.
  1. When so provided in the organization certificate, and subject to the restrictions in subdivision four of this section, a bank, trust company, stock-form savings...

Last modified: February 3, 2019