2016 New York Laws
CCO - Cooperative Corporations
Article 7 - (Cooperative Corporations) PROVISIONS AS TO CREDIT AND AGENCY CORPORATIONS
122 - Purchase of stock, assets or business of other corporations.

  122.  Purchase  of stock, assets or business of other corporations.
  An agency corporation organized under this article may purchase stock or
  property  or  any  interest  in  any  property  of  any  person,   firm,
  corporation  or  association,  and  may  discharge  the  obligations  so
  incurred wholly or in part, by  exchanging  for  the  acquired  interest
  shares  of  its  preferred capital stock to an amount which at par value
  would equal the fair market value of the stock or interest so  purchased
  as determined by the board of directors.
A  corporation  organized  under  the provisions of this article shall
  have the right to hold, own and exercise all rights of ownership in, and
  to sell, transfer or pledge, shares of capital stock  or  bonds  of  any
  other  corporation engaged in any related activity including, but not as
  a limitation, the warehousing, handling or marketing,  in  whole  or  in
  part, of any of the products handled by the corporation.