N.Y. Business Corporation Law 1319 – Applicability of other provisions
§ 1319. Applicability of other provisions.
Terms Used In N.Y. Business Corporation Law 1319
- 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.
- Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
(a) In addition to articles 1 (Short title; definitions; application; certificates; miscellaneous) and 3 (Corporate name and service of process) and the other sections of article 13 (foreign corporations), the following provisions, to the extent provided therein, shall apply to a foreign corporation doing business in this state, its directors, officers and shareholders:
(1) Section 623 (Procedure to enforce shareholder's right to receive payment for shares).
(2) Section 626 (Shareholders' derivative action brought in the right of the corporation to procure a judgment in its favor).
(3) Section 627 (Security for expenses in shareholders' derivative action brought in the right of the corporation to procure a judgment in its favor).
(4) Section 630 (Liability of shareholders for wages due to laborers, servants or employees).
(5) Sections 721 ( Nonexclusivity of statutory provisions for indemnification of directors and officers) through 726 (Insurance for indemnification of directors and officers), inclusive.
(6) Section 808 (Reorganization under act of congress).
(7) Section 907 (Merger or consolidation of domestic and foreign corporations).