N.Y. BNK Law § 216
This is the official text of N.Y. BNK Law § 216, part of New York’s BNK Law — part of the compiled statutory law of New York, published by the state as "BNK Law." Browse the sections below, each linked to its official government source.
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Capital stock
Official statutory text
§ 216. Capital stock. The capital stock of such corporation shall be\nfive hundred thousand shares of common and preferred stock, in such\namounts as shall be established in the by-laws by the board of\ndirectors, with the preferred stock having such relative rights,\npreferences and limitations as shall be established in the by-laws by\nthe board of directors. At least a majority of the capital stock of\nsuch corporation shall at all times be held by residents of the state or\nby persons, firms or corporations engaged in doing business therein.\n
Status: in_force · Read it on the official government site
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