New York § 434 - 434When corporate existence begins; conditions precedent to commencing business
Full text of New York New York Consolidated Laws § 434 — 434When corporate existence begins; conditions precedent to commencing business, with citation guidance and answers to common questions.
§ 434. 434When corporate existence begins; conditions precedent to commencing business
§ 434. When corporate existence begins; conditions precedent to commencing business. When the superintendent shall have endorsed his approval on the organization certificate as provided in article two of this chapter, the corporate existence of the Savings and Loan Bank of the State of New York shall begin and it shall then have power to elect officers and transact such other business as relates to its organization; but such savings and loan bank shall transact no other business until: 1. Subscriptions to its shares aggregating one hundred thousand dollars shall have been paid in cash and an affidavit stating that such subscriptions have been so paid, subscribed and sworn to by its two principal officers, shall have been filed in the clerk's office of the county of New York, and a certified copy thereof in the office of the superintendent. 2. The superintendent shall have duly issued to it the authorization certificate specified in article two of this chapter.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 434
What does New York Consolidated Laws § 434 cover?
Section 434 ("434When corporate existence begins; conditions precedent to commencing 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 § 434?
A common citation format is "New York Consolidated Laws § 434" (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 § 434 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.