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Current as of January 01, 2021 | Updated by FindLaw Staff
The reasonable charges and expenses of formation or reorganization of a corporation, and the reasonable expenses of and compensation for the sale or underwriting of its shares may be paid or allowed by the corporation out of the consideration received by it in payment for its shares without thereby impairing the fully paid and nonassessable status of such shares.
Cite this article: FindLaw.com - New York Consolidated Laws, Business Corporation Law - BSC § 507. Compensation for formation, reorganization and financing - last updated January 01, 2021 | https://codes.findlaw.com/ny/business-corporation-law/bsc-sect-507/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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