Statute · New York Business Corporation Law
N.Y. Bus. Corp. Law § 908 — Guarantee authorized by shareholders
N.Y. Bus. Corp. Law § 908
- Type
- Statute
- Source
- New York Business Corporation Law
- Jurisdiction
- New York
- Current through
- Nov 4, 2026 (NY Senate Open Legislation)
§ 908. Guarantee authorized by shareholders.
Citator
N.Y. Bus. Corp. Law § 908 — Guarantee authorized by shareholders is in force in the current edition of the Code, and nothing recorded condemns it.
§ 908. Guarantee authorized by shareholders.
A guarantee may be given by a corporation, although not in furtherance of its corporate purposes, when authorized at a meeting of shareholders by two-thirds of the votes of all outstanding shares entitled to vote thereon. If authorized by a like vote, such guarantee may be secured by a mortgage or pledge of, or the creation of a security interest in, all or any part of the corporate property, or any interest therein, wherever situated.