N.Y. Cooperative Corporations Law § 94: Conversion of membership shares and internal capital accounts upon revocation of election; consolidation or merger

§ 94. Conversion of membership shares and internal capital accounts

upon revocation of election; consolidation or merger. When any worker

cooperative revokes its election in accordance with section eighty-six

of this article, an amendment of the certificate of incorporation shall

provide for conversion of membership shares and internal capital

accounts or their conversion to securities or other property in a manner

consistent with the provisions of the business corporation law.