N.Y. BNK Law § 5006
This is the official text of N.Y. BNK Law § 5006, 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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Compensation for formation, reorganization and financing
Official statutory text
§ 5006. Compensation for formation, reorganization and financing. The\nreasonable charges and expenses of formation or reorganization of a\ncorporation, and the reasonable expenses of and compensation for the\nsale or underwriting of its shares may be paid or allowed by the\ncorporation out of the consideration received by it in payment for its\nshares without thereby impairing the fully paid and nonassessable status\nof such shares as provided in subdivision eight of section five thousand\nfour.\n
Status: in_force · Read it on the official government site
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