New York § 202 - 202Restriction upon commencement of business
Full text of New York New York Consolidated Laws § 202 — 202Restriction upon commencement of business, with citation guidance and answers to common questions.
§ 202. 202Restriction upon commencement of business
§ 202. Restriction upon commencement of business. No business corporation organized under the provisions of this article shall engage in the prosecution or management of its business until the whole of its capital stock shall have been subscribed, nor until it shall have filed in the offices where certificates of incorporation were filed, a further certificate stating that the whole of its capital stock has been in good faith subscribed, executed and acknowledged by its president or vice-president and treasurer or secretary, and verified by them to the effect that the statements contained in it are true. Notwithstanding the foregoing, corporations organized pursuant to section two hundred one of the not-for-profit corporation law as charitable corporations as defined in paragraph (a) of section one hundred two (Definitions) of the not-for-profit corporation law shall not engage in the prosecution or management of its business until its certificate of incorporation has been accepted for filing by the secretary of state and such confirmation of filing has been filed with the commission and the franchise oversight board.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 202
What does New York Consolidated Laws § 202 cover?
Section 202 ("202Restriction upon commencement of business") is part of the New York Consolidated Laws, the codified statutory law of New York. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New York § 202?
A common citation format is "New York Consolidated Laws § 202" (New York). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New York law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New York official source linked on this page or consult a licensed New York attorney.
How does New York § 202 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New York can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New York.