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Assembly Bill A8473

2009-2010 Legislative Session

Relates to the dissolution and the restraint of doing business in the state when a corporation, incorporated or foreign, has been convicted of more than three felonies

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Archive: Last Bill Status - In Assembly Committee

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2009-A8473 (ACTIVE) - Details

Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Business Corporation Law
Laws Affected:
Amd §§1101 & 1303, BC L; amd §§1101 & 1303, N-PC L

2009-A8473 (ACTIVE) - Summary

Relates to the dissolution and the restrain of doing business in the state when a corporation, incorporated or foreign, has been convicted of more than three felonies.

2009-A8473 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  8473

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                              May 21, 2009
                               ___________

Introduced by M. of A. REILLY -- read once and referred to the Committee
  on Corporations, Authorities and Commissions

AN  ACT  to  amend  the  business corporation law and the not-for-profit
  corporation law, in relation to the dissolution and the  restraint  of
  doing  business  in  the  state  when  a  corporation, incorporated or
  foreign, has been convicted of more than three felonies

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1. Section 1101 of the business corporation law is amended by
adding a new paragraph (d) to read as follows:
  (D) THE ATTORNEY-GENERAL SHALL BRING AN ACTION FOR THE DISSOLUTION  OF
A  CORPORATION  UPON  THE  FOURTH  CONVICTION OF A FELONY BY SUCH CORPO-
RATION.
  S 2. Section 1303 of the business corporation law, as amended by chap-
ter 198 of the laws of 1984, is amended to read as follows:
S 1303. Violations.
  (A) The attorney-general may bring an action  to  restrain  a  foreign
corporation  from doing in this state without authority any business for
the doing of which it is required to be authorized  in  this  state,  or
from  doing  in this state any business not set forth in its application
for authority or certificate of amendment filed  by  the  department  of
state.
  (B)  The attorney-general may bring an action or special proceeding to
annul the authority of a foreign corporation doing  in  this  state  any
business  not  set forth in its application for authority or certificate
of amendment or the authority of which was obtained  through  fraudulent
misrepresentation  or  concealment  of  a  material fact or to enjoin or
annul the authority of any foreign corporation which within  this  state
contrary  to law has done or omitted any act which if done by a domestic
corporation would be a cause for  its  dissolution  under  section  1101
(Attorney-general's  action  for  judicial  dissolution) or to annul the

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11029-01-9

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