N.Y. Banking Law § 6024: Infant securityholders

§ 6024. Infant securityholders. 1. A corporation may treat an infant

who holds shares, capital notes or debentures of such corporation as

having capacity to receive and to empower others to receive dividends,

interest, principal and other payments and distributions, to vote or

express consent or dissent, in person or by proxy, and to make elections

and exercise rights relating to such shares, capital notes or

debentures, unless, in the case of shares, the corporate officer

responsible for maintaining the list of stockholders or the transfer

agent of the corporation or, in the case of capital notes or debentures,

the paying officer or agent has received written notice that such holder

is an infant.

2. An infant holder of shares, capital notes or debentures of a

corporation who has received or empowered others to receive payments or

distributions, voted or expressed consent or dissent, or made an

election or exercised a right relating thereto, shall have no right

thereafter to disaffirm or avoid, as against the corporation, any such

act on his part, unless prior to such receipt, vote, consent, dissent,

election or exercise, as to shares, the corporate officer responsible

for maintaining the list of stockholders or its transfer agent, or in

the case of capital notes or debentures, the paying officer or agent had

received written notice that such holder was an infant.

3. This section does not limit any other statute which authorizes any

corporation to deal with an infant or limits the right of an infant to

disaffirm his acts.