N.Y. Business Corporation Law 1709 – Conspicuous language on the face of certificates
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§ 1709. Conspicuous language on the face of certificates.
Terms Used In N.Y. Business Corporation Law 1709
- Benefit corporation: means a business corporation incorporated under this article and whose status as a benefit corporation has not been terminated as provided in this article. See N.Y. Business Corporation Law 1702
- 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.
All certificates representing shares of a benefit corporation shall contain, in addition to any other statements required by the business corporation law, the following conspicuous language on the face of the certificate:
"This entity is a benefit corporation organized under Article 17 of the New York business corporation law."