N.Y. Transportation Corporations Law § 6: Merger of subsidiary corporations

§ 6. Merger of subsidiary corporations. (a) Any domestic

transportation corporation or any foreign corporation authorized to do

in this state any business which may be done in this state by a domestic

transportation corporation, owning at least ninety-five percent of the

outstanding shares of each class of any domestic corporation or

corporations authorized to engage in business similar or incidental to

the business which the possessor corporation is authorized to engage in,

and any domestic transportation corporation owning at least ninety-five

percent of the outstanding shares of each class of any foreign

corporation authorized to do in this state any business which may be

done in this state by a domestic transportation corporation and also

authorized to engage in business similar or incidental to the business

which the possessor corporation is authorized to engage in, may merge

such corporation or corporations into itself without the authorization

of the shareholders of any such corporation, in accordance with the

procedure and with the effect set forth in article nine of the business

corporation law for the merger of subsidiary corporations.

(b) Any omnibus corporation may be merged under this section with any

railroad corporation, provided such railroad corporation shall have

substituted stages, buses or motor vehicles for cars or trains upon

tracks on any portion of its route in accordance with section one

hundred twenty-one of the transportation law.