ยง 6. Power to take and convey real property. A joint-stock
association, in the name of its president, as such president, may
purchase, take, hold and convey such real property only,
1. As may be necessary for its immediate accommodation in the
convenient transaction of its business.
2. As may be mortgaged to it in good faith by way of security for
loans made by or moneys due to it.
3. As it may purchase at sales under judgments, decrees or mortgages
held by it.
Structure New York Laws
Article 2 - Joint-Stock Associations
3 - Contents of Articles of Association.
4 - Certificate to Be Filed Within Sixty Days and Annually Thereafter; Penalty; Evidence.
6 - Power to Take and Convey Real Property.
7 - Changing Articles of Association.
7-A - Incorporation of Joint-Stock Association.
8 - Proceeding to Mortgage, Lease or Sell Real Estate.
9 - Receiver of Joint-Stock Association.