509 - Purchase, sale, mortgage and lease of real property. - New York Statutes

§ 509. Purchase, sale, mortgage and lease of real property. No purchase of real property shall be made by a corporation and no corporation shall sell, mortgage or lease real property, unless authorized by the vote of two-thirds of the entire board, provided that if there are twenty-one or more directors, the vote of a majority of the entire board shall be sufficient.