There is a newer version
of
the New York Laws
2017 New York Laws
BSC - Business Corporation
Article 5 - Corporate Finance
520 - Liability for Failure to Disclose Required Information.
Universal Citation: NY Bus Corp L § 520 (2017)
520. Liability for failure to disclose required information.Failure of the corporation to comply in good faith with the notice or disclosure provisions of paragraphs (f) and (g) of section 511 (Share distributions and changes), or paragraph (c) of section 516 (Reduction of stated capital in certain cases), shall make the corporation liable for any damage sustained by any shareholder in consequence thereof.
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