N.Y. Banking Law § 8002

Current through 2024 NY Law Chapter 456

Section 8002 - Reduction of capital stock by amendment

A corporation may reduce its capital stock by an amendment of its organization certificate under section eight thousand one which :

1. Reduces the par value of any issued shares.

2. Changes issued shares under subdivision two (i) of section eight thousand one and results in a reduction of capital stock.

3. Eliminates from authorized shares, shares that have been issued and reacquired by the corporation.

N.Y. Banking Law § 8002