N.Y. RRD Law § 302
This is the official text of N.Y. RRD Law § 302, part of New York’s RRD Law — part of the compiled statutory law of New York, published by the state as "RRD Law." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Certain directors to be local residents
Official statutory text
§ 302. Certain directors to be local residents. The certificate of\nincorporation of any corporation qualifying hereunder shall provide\nthat, during the period of its existence as a railroad redevelopment\ncorporation, one-third of the members of its board of directors shall be\nresidents of the counties served by such corporation and shall be\notherwise unaffiliated, directly or indirectly, with such corporation or\nany stockholder thereof; and that the individuals who are elected\ninitially as such directors shall continue to serve throughout such\nperiod, except that, in the event any of them shall die, resign, or\nbecome incapable of performing the duties of a director, a successor or\nsuccessors shall be named by the remaining such directors.\n
Status: in_force · Read it on the official government site
Need a lawyer in New York?
Find a New York lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.