There is a newer version
of
the New York Laws
2020 New York Laws
CCO - Cooperative Corporations
Article 5 - Miscellaneous Provisions
71 - Purchasing Business of Other Corporations or Persons.
Universal Citation: NY Coop Corp L § 71 (2020)
§ 71. Purchasing business of other corporations or persons. Whenever a corporation shall purchase the business of another corporation or person, it may make payment wholly or partly by the issue of shares or other securities to an amount which at par value would equal the fair market value of the business so purchased; and such securities shall thereupon be deemed fully paid for.
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