New York § 463 - 463Exemptions and individual liability of shareholders
Full text of New York New York Consolidated Laws § 463 — 463Exemptions and individual liability of shareholders, with citation guidance and answers to common questions.
§ 463. 463Exemptions and individual liability of shareholders
§ 463. Exemptions and individual liability of shareholders. The transfer of the shares of any credit union shall not be taxable under the provisions of article twelve of the tax law. The shareholders of a credit union shall not be individually liable for the payment of the credit union's debts.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 463
What does New York Consolidated Laws § 463 cover?
Section 463 ("463Exemptions and individual liability of shareholders") 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 § 463?
A common citation format is "New York Consolidated Laws § 463" (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 § 463 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.