State Codes and Statutes

Statutes > New-york > Tcp > Article-8 > 104

§   104.  Corporate  acts  subject  to  approval  of  commissioner  of  transportation. It shall be necessary for such a corporation  to  secure  the approval of the commissioner of transportation as a condition to the  following  corporate acts: The issuance of stock; the issuance of bonds,  notes or other evidences  of  indebtedness,  payable  more  than  twelve  months   after  the  date  of  issuance;  the  mortgaging  of  property,  privileges or franchises to secure  its  obligations;  the  increase  or  decrease  of  its  capital or capital stock; the change of number of its  shares; the purchase or acquisition of stocks, bonds or other  evidences  of indebtedness of any other corporation, domestic or foreign.    Such  order  of  approval  shall  state  that  in  the  opinion of the  commissioner the use of the capital to be obtained by the issue of  such  stock, bonds, notes, or evidences of indebtedness is reasonably required  for  the  purposes  of  the corporation, and shall specify the amount of  each issue thereof to which his approval is given.

State Codes and Statutes

Statutes > New-york > Tcp > Article-8 > 104

§   104.  Corporate  acts  subject  to  approval  of  commissioner  of  transportation. It shall be necessary for such a corporation  to  secure  the approval of the commissioner of transportation as a condition to the  following  corporate acts: The issuance of stock; the issuance of bonds,  notes or other evidences  of  indebtedness,  payable  more  than  twelve  months   after  the  date  of  issuance;  the  mortgaging  of  property,  privileges or franchises to secure  its  obligations;  the  increase  or  decrease  of  its  capital or capital stock; the change of number of its  shares; the purchase or acquisition of stocks, bonds or other  evidences  of indebtedness of any other corporation, domestic or foreign.    Such  order  of  approval  shall  state  that  in  the  opinion of the  commissioner the use of the capital to be obtained by the issue of  such  stock, bonds, notes, or evidences of indebtedness is reasonably required  for  the  purposes  of  the corporation, and shall specify the amount of  each issue thereof to which his approval is given.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Tcp > Article-8 > 104

§   104.  Corporate  acts  subject  to  approval  of  commissioner  of  transportation. It shall be necessary for such a corporation  to  secure  the approval of the commissioner of transportation as a condition to the  following  corporate acts: The issuance of stock; the issuance of bonds,  notes or other evidences  of  indebtedness,  payable  more  than  twelve  months   after  the  date  of  issuance;  the  mortgaging  of  property,  privileges or franchises to secure  its  obligations;  the  increase  or  decrease  of  its  capital or capital stock; the change of number of its  shares; the purchase or acquisition of stocks, bonds or other  evidences  of indebtedness of any other corporation, domestic or foreign.    Such  order  of  approval  shall  state  that  in  the  opinion of the  commissioner the use of the capital to be obtained by the issue of  such  stock, bonds, notes, or evidences of indebtedness is reasonably required  for  the  purposes  of  the corporation, and shall specify the amount of  each issue thereof to which his approval is given.

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