N.Y. Cooperative Corporations Law § 94

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