State Codes and Statutes

Statutes > New-york > Cco > Article-5-a > 84

§  84. Applicability of the business corporation law. 1. A corporation  electing to be governed as  a  worker  cooperative  in  accordance  with  section  eighty-two  of this article shall be governed by all provisions  of the business corporation law, except as otherwise  provided  in  this  article.    2.  Notwithstanding the provisions of paragraph (b) of subdivision (1)  of section five of this chapter, the following sections of the  business  corporation  law  shall  apply  to  worker  cooperatives,  except  where  otherwise provided in this article: section four hundred three,  section  five  hundred  five,  paragraph  (c)  of  section five hundred eighteen,  paragraph (a) of section six hundred eight,  paragraph  (a)  of  section  seven  hundred  three,  section  seven hundred four and paragraph (a) of  section eight hundred three.    3. The following sections of the business corporation  law  shall  not  apply to membership shares in a worker cooperative as defined in section  eighty-one  of  this  article:  section five hundred three, section five  hundred four, section five hundred nine, paragraph (c) of  section  five  hundred   twelve,  section  six  hundred  twelve,  section  six  hundred  seventeen,  section  six  hundred  twenty-two,   section   six   hundred  twenty-three,  section  six  hundred twenty-five and section six hundred  twenty-eight.

State Codes and Statutes

Statutes > New-york > Cco > Article-5-a > 84

§  84. Applicability of the business corporation law. 1. A corporation  electing to be governed as  a  worker  cooperative  in  accordance  with  section  eighty-two  of this article shall be governed by all provisions  of the business corporation law, except as otherwise  provided  in  this  article.    2.  Notwithstanding the provisions of paragraph (b) of subdivision (1)  of section five of this chapter, the following sections of the  business  corporation  law  shall  apply  to  worker  cooperatives,  except  where  otherwise provided in this article: section four hundred three,  section  five  hundred  five,  paragraph  (c)  of  section five hundred eighteen,  paragraph (a) of section six hundred eight,  paragraph  (a)  of  section  seven  hundred  three,  section  seven hundred four and paragraph (a) of  section eight hundred three.    3. The following sections of the business corporation  law  shall  not  apply to membership shares in a worker cooperative as defined in section  eighty-one  of  this  article:  section five hundred three, section five  hundred four, section five hundred nine, paragraph (c) of  section  five  hundred   twelve,  section  six  hundred  twelve,  section  six  hundred  seventeen,  section  six  hundred  twenty-two,   section   six   hundred  twenty-three,  section  six  hundred twenty-five and section six hundred  twenty-eight.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Cco > Article-5-a > 84

§  84. Applicability of the business corporation law. 1. A corporation  electing to be governed as  a  worker  cooperative  in  accordance  with  section  eighty-two  of this article shall be governed by all provisions  of the business corporation law, except as otherwise  provided  in  this  article.    2.  Notwithstanding the provisions of paragraph (b) of subdivision (1)  of section five of this chapter, the following sections of the  business  corporation  law  shall  apply  to  worker  cooperatives,  except  where  otherwise provided in this article: section four hundred three,  section  five  hundred  five,  paragraph  (c)  of  section five hundred eighteen,  paragraph (a) of section six hundred eight,  paragraph  (a)  of  section  seven  hundred  three,  section  seven hundred four and paragraph (a) of  section eight hundred three.    3. The following sections of the business corporation  law  shall  not  apply to membership shares in a worker cooperative as defined in section  eighty-one  of  this  article:  section five hundred three, section five  hundred four, section five hundred nine, paragraph (c) of  section  five  hundred   twelve,  section  six  hundred  twelve,  section  six  hundred  seventeen,  section  six  hundred  twenty-two,   section   six   hundred  twenty-three,  section  six  hundred twenty-five and section six hundred  twenty-eight.