N.Y. Cooperative Corporations Law § 71: Purchasing business of other corporations or persons

§ 71. Purchasing business of other corporations or persons. Whenever a

corporation shall purchase the business of another corporation or

person, it may make payment wholly or partly by the issue of shares or

other securities to an amount which at par value would equal the fair

market value of the business so purchased; and such securities shall

thereupon be deemed fully paid for.