2006 New York Code - Reduction Of Stated Capital By Amendment.

 
  § 802. Reduction of stated capital by amendment.
    (a) A corporation may reduce its stated capital by an amendment of its
  certificate   of   incorporation  under  section  801  (Right  to  amend
  certificate of incorporation) which:
    (1) Reduces the par value of any issued shares with par value.
    (2) Changes issued shares under subparagraph (b) (11) of  section  801
  that results in a reduction of stated capital.
    (3) Removes  from  authorized  shares,  shares  that have been issued,
  reacquired and cancelled by the corporation.
    (b) This section shall not prevent a  corporation  from  reducing  its
  stated capital in any other manner permitted by this chapter.