Statute · New York Banking Law
N.Y. Banking Law § 216 — Capital stock
N.Y. Banking Law § 216
- Type
- Statute
- Source
- New York Banking Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 216. Capital stock. The capital stock of such corporation shall be five hundred thousand shares of common and preferred stock, in such amounts as shall be established in the by-laws by the board of directors, with the preferred stock having such relative rights, preferences and limitations as…
Citator
N.Y. Banking Law § 216 — Capital stock is in force in the current edition of the Code, and nothing recorded condemns it.
§ 216. Capital stock. The capital stock of such corporation shall be five hundred thousand shares of common and preferred stock, in such amounts as shall be established in the by-laws by the board of directors, with the preferred stock having such relative rights, preferences and limitations as shall be established in the by-laws by the board of directors. At least a majority of the capital stock of such corporation shall at all times be held by residents of the state or by persons, firms or corporations engaged in doing business therein.