New York § 80 - 80Income debentures
Full text of New York New York Consolidated Laws § 80 — 80Income debentures, with citation guidance and answers to common questions.
§ 80. 80Income debentures
§ 80. Income debentures. With the approval of the commissioner the certificate, or an amended certificate, may authorize the issuance of income debenture certificates bearing no greater interest than six per centum per annum. In the case of a housing company organized as a corporation the directors thereof may, with the consent of two-thirds of the holders of the preferred shares issued and outstanding, offer to the shareholders of the housing company, the privilege of exchanging their shares in such quantities and at such times as may be approved by the commissioner for such income debenture certificates. In no event shall the amount of shares of the housing company be less than ten per centum of the total of shares and income debentures.
Frequently Asked Questions About New York § 80
What does New York Consolidated Laws § 80 cover?
Section 80 ("80Income debentures") 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 § 80?
A common citation format is "New York Consolidated Laws § 80" (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 § 80 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.