N.Y. BSC Law § 908
This is the official text of N.Y. BSC Law § 908, part of New York’s BSC Law — part of the compiled statutory law of New York, published by the state as "BSC Law." Browse the sections below, each linked to its official government source.
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Guarantee authorized by shareholders
Official statutory text
§ 908. Guarantee authorized by shareholders.\n A guarantee may be given by a corporation, although not in furtherance\nof its corporate purposes, when authorized at a meeting of shareholders\nby two-thirds of the votes of all outstanding shares entitled to vote\nthereon. If authorized by a like vote, such guarantee may be secured by\na mortgage or pledge of, or the creation of a security interest in, all\nor any part of the corporate property, or any interest therein, wherever\nsituated.\n
Status: in_force · Read it on the official government site
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