There is a newer version of the New York Consolidated Laws
2006 New York Code - Consideration For Issuance Of Stock, Bonds Or Income Debentures.
§ 208. Consideration for issuance of stock, bonds or income debentures. No redevelopment corporation shall issue stock, bonds or income debentures, except for money or property actually received for the use and lawful purposes of the corporation or services actually performed for the corporation.
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