ยง 5015. Capital notes and debentures. No corporation shall issue
capital notes or debentures except for money or other property, tangible
or intangible, or labor or services actually received by or performed
for the corporation or for its benefit or in its formation or
reorganization, or a combination thereof. In the absence of fraud in
the transaction, the judgment of the board as to the value of the
consideration received shall be conclusive.
Structure New York Laws
5002 - Issue of Any Class of Preferred Shares in Series.
5003 - Subscription for Shares; Time of Payment, Forfeiture for Default.
5004 - Consideration and Payment for Shares.
5005 - Transferable Rights to Purchase Shares; Imposition of Restrictions or Conditions Thereon.
5006 - Compensation for Formation, Reorganization and Financing.
5007 - Certificates Representing Shares.
5008 - Fractions of a Share or Scrip Authorized.
5009 - Dividends or Other Distributions in Cash or Property.
5010 - Share Distributions and Changes.
5012 - Purchase or Redemption by a Corporation of Its Own Shares.
5013 - Agreements for Purchase by a Corporation of Its Own Shares.