There is a newer version of the New York Consolidated Laws
2022
2021
2020
2019
2018
Other previous versions
View our newest version here

2014 New York Laws
BNK - Banking
Article 5-A - (210 - 220) NEW YORK BUSINESS DEVELOPMENT CORPORATION
216 - Capital stock.

NY Banking L § 216 (2014) What's This?
 216.  Capital  stock. The capital stock of such corporation shall be
  five hundred thousand shares of common  and  preferred  stock,  in  such
  amounts  as  shall  be  established  in  the  by-laws  by  the  board of
  directors,  with  the  preferred  stock  having  such  relative  rights,
  preferences  and  limitations  as shall be established in the by-laws by
  the board of directors.  At least a majority of  the  capital  stock  of
  such corporation shall at all times be held by residents of the state or
  by persons, firms or corporations engaged in doing business therein.

Disclaimer: These codes may not be the most recent version. New York may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.