N.Y. Business Corporation Law 1608 – Designation of secretary of state for service
§ 1608. Designation of secretary of state for service.
Terms Used In N.Y. Business Corporation Law 1608
- 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.
- offeror: includes an issuer of securities whose securities are or are to be the subject of a takeover bid whether or not the issuer, upon acquisition, will become the beneficial owner of such securities. See N.Y. Business Corporation Law 1601
- Service of process: The service of writs or summonses to the appropriate party.
(a) Every nonresident offeror, whether or not such offeror has filed a registration statement, except a foreign corporation which has appointed and keeps a resident agent in this state, shall be deemed to have appointed the secretary of state as his agent upon whom may be served any lawful process, authorized by this article, with the same effect as though served upon the offeror personally.
(b) Service of process pursuant to this section shall be accomplished by leaving a copy of the process in the office of the secretary of state, but it shall not be effective unless notice of the service and a copy of the process is sent by certified or registered mail to the nonresident offeror served, at his last known address.