A guarantee may be given by a corporation, although not in furtherance
of its corporate purposes, when authorized at a meeting of shareholders
by two-thirds of the votes of all outstanding shares entitled to vote
thereon. If authorized by a like vote, such guarantee may be secured by
a mortgage or pledge of, or the creation of a security interest in, all
or any part of the corporate property, or any interest therein, wherever
situated.
Structure New York Laws
Article 9 - Merger or Consolidation; Guarantee; Disposition of Assets; Share Exchanges
901 - Power of Merger or Consolidation.
902 - Plan of Merger or Consolidation.
903 - Authorization by Shareholders.
904 - Certificate of Merger or Consolidation; Contents.
904-B - Merger or Consolidation of Business Corporations Into Non-Profit Corporations.
905 - Merger of Parent and Subsidiary Corporations.
906 - Effect of Merger or Consolidation.
907 - Merger or Consolidation of Domestic and Foreign Corporations.
908 - Guarantee Authorized by Shareholders.
909 - Sale, Lease, Exchange or Other Disposition of Assets.
911 - Mortgage or Pledge Of, or Security Interest In, Corporate Property.
912 - Requirements Relating to Certain Business Combinations.