N.Y. Banking Law § 603

§ 603. Issuance of new certificates of stock or other consideration.\nThe receiving corporation may require the return of the original\ncertificate or certificates held by each stockholder or shareholder in\nsuch other corporation or corporations and may issue in lieu thereof new\ncertificates for such number of its own shares, or pay or deliver such\nother consideration, as such stockholder or shareholder may be entitled\nto receive under the merger plan.\n