2006 New York Code - Guarantee Authorized By Shareholders.

 
  § 908. Guarantee authorized by shareholders.
    A guarantee may be given by a corporation, although not in furtherance
  of  its corporate purposes, when authorized at a meeting of shareholders
  by two-thirds of the votes of all outstanding shares  entitled  to  vote
  thereon.  If authorized by a like vote, such guarantee may be secured by
  a mortgage or pledge of, or the creation of a security interest in,  all
  or any part of the corporate property, or any interest therein, wherever
  situated.