Statute · New York Cooperative Corporations Law
N.Y. Coop. Corp. Law § 94 — Conversion of membership shares and internal capital accounts upon revocation of election; consolidation or merger
N.Y. Coop. Corp. Law § 94
- Type
- Statute
- Source
- New York Cooperative Corporations Law
- Jurisdiction
- New York
- Current through
- Nov 4, 2026 (NY Senate Open Legislation)
§ 94. Conversion of membership shares and internal capital accounts upon revocation of election; consolidation or merger. When any worker cooperative revokes its election in accordance with section eighty-six of this article, an amendment of the certificate of incorporation shall provide for…
Citator
N.Y. Coop. Corp. Law § 94 — Conversion of membership shares and internal capital accounts upon revocation of election; consolidation or merger is in force in the current edition of the Code, and nothing recorded condemns it.
§ 94. Conversion of membership shares and internal capital accounts upon revocation of election; consolidation or merger. When any worker cooperative revokes its election in accordance with section eighty-six of this article, an amendment of the certificate of incorporation shall provide for conversion of membership shares and internal capital accounts or their conversion to securities or other property in a manner consistent with the provisions of the business corporation law.