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BCL 623 provides the exclusive remedy a fair value appraisal and buy-out for minority shareholders who oppose a proposed corporate transaction. With rare exception, these disgruntled shareholders have no right to monetary damages and their claims cannot be brought in ordinary litigation.
Section 1503 of the Business Corporation Law states that a certificate or certificates issued by the licensing authority docHubing that each of the proposed shareholders, directors, and officers is licensed and currently registered to practice the profession which the corporation is being organized to practice must be Section III Domestic Professional Service Corporations (PC) New York State Education Department (.gov) corporate disclaimer sect New York State Education Department (.gov) corporate disclaimer sect
(b) No written consent shall be effective to take the corporate action referred to therein unless, within sixty days of the earliest dated consent delivered in the manner required by this paragraph to the corporation, written consents signed by a sufficient number of holders to take action are delivered to the
It shall set forth: (1) The name of the corporation and, if its name has been changed, the name under which it was formed. (2) The date its certificate of incorporation was filed by the department of state. (3) The name and address of each of its officers and directors. (4) That the corporation elects to dissolve.
Section 1503 of the Business Corporation Law states that a certificate or certificates issued by the licensing authority docHubing that each of the proposed shareholders, directors, and officers is licensed and currently registered to practice the profession which the corporation is being organized to practice must be
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