New York S04392 allows cemetery corporations to retire certificates or instruments of indebtedness for their permanent maintenance fund after.
New York S04392 amends the not-for-profit corporation law to permit cemetery corporations to retire any certificates or instruments of indebtedness related to their operations. This retirement benefits the cemetery's permanent maintenance fund. The bill mandates that the cemetery corporation must notify the certificate owners at least sixty days before the retirement. After the retirement, any voting rights associated with the certificates or instruments are annulled.
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