New York Business Corporation Law Article 5 - CORPORATE FINANCE

• 501 - Authorized Shares.
  (a) Every corporation shall have power to create and issue the number of shares stated in its certificate of incorporation. Such shares may be all...
• 502 - Issue of Any Class of Preferred Shares in Series.
  (a) If the certificate of incorporation so provides, a corporation may issue any class of preferred shares in series. Shares of each such series when...
• 503 - Subscription for Shares; Time of Payment, Forfeiture for Default.
  (a) Unless otherwise provided by the terms of the subscription, a subscription for shares of a corporation to be formed shall be irrevocable, except with...
• 504 - Consideration and Payment for Shares.
  (a) Consideration for the issue of shares shall consist of money or other property, tangible or intangible; labor or services actually received by or performed...
• 505 - Rights and Options to Purchase Shares; Issue of Rights and Options to Directors, Officers and Employees.
  (a) (1) Except as otherwise provided in this section or in the certificate of incorporation, a corporation may create and issue, whether or not in...
• 506 - Determination of Stated Capital.
  (a) Upon issue by a corporation of shares with a par value, the consideration received therefor shall constitute stated capital to the extent of the...
• 507 - 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...
• 508 - Certificates Representing Shares.
  (a) The shares of a corporation shall be represented by certificates or shall be uncertificated shares. Certificates shall be signed by the chairman or a...
• 509 - Fractions of a Share or Scrip Authorized.
  (a) A corporation may, but shall not be obliged to, issue fractions of a share either represented by a certificate or uncertificated, which shall entitle...
• 510 - Dividends or Other Distributions in Cash or Property.
  (a) A corporation may declare and pay dividends or make other distributions in cash or its bonds or its property, including the shares or bonds...
• 511 - Share Distributions and Changes.
  (a) A corporation may make pro rata distributions of its authorized but unissued shares to holders of any class or series of its outstanding shares,...
• 512 - Redeemable Shares.
  (a) Subject to the restrictions contained in section 513 (Purchase, redemption and certain other transactions by a corporation with respect to its own shares) and...
• 513 - Purchase, Redemption and Certain Other Transactions by a Corporation With Respect to Its Own Shares.
  (a) Notwithstanding any authority contained in the certificate of incorporation, the shares of a corporation may not be purchased by the corporation, or, if redeemable,...
• 514 - Agreements for Purchase by a Corporation of Its Own Shares.
  (a) An agreement for the purchase by a corporation of its own shares shall be enforceable by the shareholder and the corporation to the extent...
• 515 - Reacquired Shares.
  (a) Shares that have been issued and have been purchased, redeemed or otherwise reacquired by a corporation shall be cancelled if they are reacquired out...
• 516 - Reduction of Stated Capital in Certain Cases.
  (a) Except as otherwise provided in the certificate of incorporation, the board may at any time reduce the stated capital of a corporation in any...
• 518 - Corporate Bonds.
  (a) No corporation shall issue bonds except for money or other property, tangible or intangible; labor or services actually received by or performed for the...
• 519 - Convertible or Exchangeable Shares and Bonds.
  (a) Unless otherwise provided in the certificate of incorporation, and subject to the restrictions in section 513 (Purchase, redemption and certain other transactions by a...
• 520 - Liability for Failure to Disclose Required Information.
  Failure of the corporation to comply in good faith with the notice or disclosure provisions of paragraphs (f) and (g) of section 511 (Share distributions...

Last modified: February 3, 2019