New York Restriction Upon Commencement Of Business.

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    §  203.  Restriction  upon  commencement of business.   No corporation
  organized under the provisions of  this  article  shall  engage  in  the
  prosecution or management of its business until the whole of its capital
  stock  shall  have been subscribed, nor until it shall have filed in the
  offices where  certificates  of  incorporation  were  filed,  a  further
  certificate stating that the whole of its capital stock has been in good
  faith   subscribed,  executed  and  acknowledged  by  its  president  or
  vice-president and treasurer or secretary, and verified by them  to  the
  effect that the statements contained in it are true.