§ 908. Guarantee authorized by shareholders.\n A guarantee may be given by a corporation, although not in furtherance\nof its corporate purposes, when authorized at a meeting of shareholders\nby two-thirds of the votes of all outstanding shares entitled to vote\nthereon. If authorized by a like vote, such guarantee may be secured by\na mortgage or pledge of, or the creation of a security interest in, all\nor any part of the corporate property, or any interest therein, wherever\nsituated.\n
‹ Prev All New York sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.