New York § 308 - 308Capital and shares
Full text of New York New York Consolidated Laws § 308 — 308Capital and shares, with citation guidance and answers to common questions.
§ 308. 308Capital and shares
§ 308. Capital and shares. The total number of shares which the corporation may issue is forty thousand, all without par value. The consideration for which such shares may be issued is one hundred dollars per share in cash. The capital of the corporation shall be at least equal to the consideration received by the corporation from the issuance of its shares plus such amounts as, from time to time, by resolution of the board of directors may be transferred thereto. At least two and one-half per centum of the authorized shares shall be issued and paid for before the corporation shall be authorized to transact any business other than such as relates to its organization.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 308
What does New York Consolidated Laws § 308 cover?
Section 308 ("308Capital and shares") 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 § 308?
A common citation format is "New York Consolidated Laws § 308" (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 § 308 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.