There is a newer version
of
the New York Laws
2017 New York Laws
BSC - Business Corporation
Article 9 - Merger or Consolidation; Guarantee; Disposition of Assets; Share Exchanges
908 - Guarantee Authorized by Shareholders.
Universal Citation: NY Bus Corp L § 908 (2017)
908. Guarantee authorized by shareholders.A guarantee may be given by a corporation, although not in furtherance of its corporate purposes, when authorized at a meeting of shareholders by two-thirds of the votes of all outstanding shares entitled to vote thereon. If authorized by a like vote, such guarantee may be secured by a mortgage or pledge of, or the creation of a security interest in, all or any part of the corporate property, or any interest therein, wherever situated.
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