New York Laws > Cooperative Corporations > Article 7 – Provisions As to Credit and Agency Corporations
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§ 120 | Organization |
§ 121 | Special powers |
§ 122 | Purchase of stock, assets or business of other corporations |
§ 123 | Credit and agency corporations; ownership of voting common stock; directors |
Terms Used In New York Laws > Cooperative Corporations > Article 7 - Provisions As to Credit and Agency Corporations
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC