{"data":{"id":"us-ny/n.y.-business-corporation-law-507","jurisdiction":"us-ny","citation":"N.Y. Business Corporation Law § 507","heading":"Compensation for formation, reorganization and financing","body":"§ 507. Compensation for formation, reorganization and financing.\n  The reasonable charges and expenses of formation or reorganization of\na corporation, and the reasonable expenses of and compensation for the\nsale or underwriting of its shares may be paid or allowed by the\ncorporation out of the consideration received by it in payment for its\nshares without thereby impairing the fully paid and nonassessable status\nof such shares.","path":["Business Corporation Law","Article 5. Corporate Finance"],"source_url":"https://legislation.nysenate.gov/api/3/laws/BSC/507","current_through":"2026-09-11","vintage":"","retrieved_at":"2026-09-14T19:32:44Z","sha256":"1ecf647dc1570fb2759bcbc1abd3efd6559c98ab5234f834b788e7dcd66c1acb","source_id":"us-ny","stale":false,"prev":"us-ny/n.y.-business-corporation-law-506","next":"us-ny/n.y.-business-corporation-law-508"},"notice":"GroundRules: Original legal text. Not legal advice."}