N.Y. Banking Law Section 8002
Reduction of capital stock by amendment

A corporation may reduce its capital stock by an amendment of its organization certificate under section eight thousand one which:

1.

Reduces the par value of any issued shares.

2.

Changes issued shares under subdivision two (i) of section eight thousand one and results in a reduction of capital stock.

3.

Eliminates from authorized shares, shares that have been issued and reacquired by the corporation.

Source: Section 8002 — Reduction of capital stock by amendment, https://www.­nysenate.­gov/legislation/laws/BNK/8002 (updated Sep. 22, 2014; accessed Jan. 18, 2025).

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Accessed:
Jan. 18, 2025

Last modified:
Sep. 22, 2014

§ 8002’s source at nysenate​.gov

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