Statute · New York Cooperative Corporations Law
N.Y. Coop. Corp. Law § 71 — Purchasing business of other corporations or persons
N.Y. Coop. Corp. Law § 71
- Type
- Statute
- Source
- New York Cooperative Corporations Law
- Jurisdiction
- New York
- Current through
- Nov 4, 2026 (NY Senate Open Legislation)
§ 71. Purchasing business of other corporations or persons. Whenever a corporation shall purchase the business of another corporation or person, it may make payment wholly or partly by the issue of shares or other securities to an amount which at par value would equal the fair market value of…
Citator
N.Y. Coop. Corp. Law § 71 — Purchasing business of other corporations or persons is in force in the current edition of the Code, and nothing recorded condemns it.
§ 71. Purchasing business of other corporations or persons. Whenever a corporation shall purchase the business of another corporation or person, it may make payment wholly or partly by the issue of shares or other securities to an amount which at par value would equal the fair market value of the business so purchased; and such securities shall thereupon be deemed fully paid for.