2006 New York Code - Changes In Corporate Licenses.
§ 20-366 Changes in corporate licenses. If, during the term of the licensing period, one or more directors, stockholders or officers of a corporate license, is substituted or added, such substituted or added directors, stockholders or officers shall, within five days of such substitution or addition, file with the commissioner an application for an approval of the change of directors, stockholders or officers on such forms as are prescribed by the commissioner. A waiver of this provision may be granted in the discretion of the commissioner to any corporation with regard to stockholders holding less than ten percent of the issued stock.
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