ยง 208. Consideration for issuance of stock, bonds or income
debentures. No redevelopment corporation shall issue stock, bonds or
income debentures, except for money or property actually received for
the use and lawful purposes of the corporation or services actually
performed for the corporation.
Structure New York Laws
Article 6 - Urban Redevelopment Corporations
201 - Legislative Finding, Policy of State, and Purpose of Article.
203 - Development Plans and Approval Thereof.
204 - Appointment of Supervising Agency.
205 - Redevelopment Corporations.
206 - Limitations of Redevelopment Corporations.
207 - Application of Other Corporation Laws to Redevelopment Corporations.
208 - Consideration for Issuance of Stock, Bonds or Income Debentures.
209 - Determination of Development Cost.
210 - Regulation of Redevelopment Corporations by Supervising Agency.
211 - Exemption From Increase in Local Taxation.
212 - Limited Return on Income Debentures and Stock.
213 - Enforcement Proceedings Against Redevelopment Corporations.
214 - Transfer of Real Property to Redevelopment Corporation.
215 - Methods of Acquisition of Real Property.
217 - Temporary Use or Occupation of Real Property Taken by Acquisition.
219 - Sale or Lease of Real Property by a City to a Redevelopment Corporation.