§ 8002. Reduction of capital stock by amendment. A corporation may reduce its capital stock by an amendment of its organization certificate under section eight thousand one which: 1. Reduces the par value of any issued shares. 2. Changes issued shares under subdivision two (i) of section eight thousand one and results in a reduction of capital stock. 3. Eliminates from authorized shares, shares that have been issued and reacquired by the corporation.
Reduction of capital stock by amendment
N.Y. Banking Law § 8002, under Amendments and Changes.
N.Y. Banking Law § 8002