2017 New York Laws
BNK - Banking
Article 15 - General Provisions Applicable to Banking Stock Corporations, Limited Liability Investment Companies, and Limited Liability Trust Companies
Title 5 - Corporate Finance
5002 - Issue of Any Class of Preferred Shares in Series.

 5002.  Issue  of  any class of preferred shares in series. 1. If the
  organization certificate so provides, a corporation may issue any  class
  of  preferred shares in series. Shares of each such series, when issued,
  shall be designated to distinguish them from the  shares  of  all  other
  series.
2.  The  number of shares included in any or all series of any classes
  of preferred shares and any or all of the designations, relative rights,
  preferences and limitations of any or all such series may  be  fixed  in
  the  organization  certificate,  subject  to the limitation that, if the
  stated dividends and amounts payable on  liquidation  are  not  paid  in
  full,  the shares of all series of the same class shall share ratably in
  the payment of dividends including accumulations, if any, in  accordance
  with  the  sums  which  would be payable on such shares if all dividends
  were declared and paid in full, and in any distribution of assets  other
  than  by  way  of  dividends  in accordance with the sums which would be
  payable on such distribution if all  sums  payable  were  discharged  in
  full.
3.  If  any  such  number  of shares or any such designation, relative
  right, preference or limitation of the shares of any series is not fixed
  in the organization certificate, it may be fixed by the  board,  to  the
  extent authorized by the organization certificate.
4.  Before  the  issue  of  any  shares of a series established by the
  board, a certificate of amendment shall be filed as provided in  section
  eight thousand five. Such certificate shall set forth:
(a)  The name of the corporation and, if it has been changed, the name
  under which it was formed.
(b)  The  date  the  organization  certificate  was   filed   by   the
  superintendent.
(c)  That  the  organization  certificate  is  thereby  amended by the
  addition of  a  provision  stating  the  number,  designation,  relative
  rights,  preferences,  and  limitations  of  the shares of the series as
  fixed by the board, setting forth in full the text of such provision.