94 - Conversion of membership shares and internal capital accounts upon revocation of election; consolidation or merger.

§  94.  Conversion  of membership shares and internal capital accounts  upon revocation of election; consolidation or merger.  When  any  worker  cooperative  revokes  its election in accordance with section eighty-six  of this article, an amendment of the certificate of incorporation  shall  provide  for  conversion  of  membership  shares  and  internal  capital  accounts or their conversion to securities or other property in a manner  consistent with the provisions of the business corporation law.