N.Y. Banking Law § 8002: Reduction of capital stock by amendment

§ 8002. Reduction of capital stock by amendment. A corporation may

reduce its capital stock by an amendment of its organization certificate

under section eight thousand one which:

1. Reduces the par value of any issued shares.

2. Changes issued shares under subdivision two (i) of section eight

thousand one and results in a reduction of capital stock.

3. Eliminates from authorized shares, shares that have been issued and

reacquired by the corporation.