N.Y. Banking Law § 8002

§ 8002. Reduction of capital stock by amendment. A corporation may\nreduce its capital stock by an amendment of its organization certificate\nunder section eight thousand one which:\n 1. Reduces the par value of any issued shares.\n 2. Changes issued shares under subdivision two (i) of section eight\nthousand one and results in a reduction of capital stock.\n 3. Eliminates from authorized shares, shares that have been issued and\nreacquired by the corporation.\n