Statute · New York Debtor & Creditor Law
N.Y. Debt. & Cred. Law § 192 — Set-off of mutual debts or credits
N.Y. Debt. & Cred. Law § 192
- Type
- Statute
- Source
- New York Debtor & Creditor Law
- Jurisdiction
- New York
- Current through
- Nov 4, 2026 (NY Senate Open Legislation)
§ 192. Set-off of mutual debts or credits. Where mutual credit has been given by any debtor, except a debtor proceeding under the fifth article of this chapter, and any other person, or mutual debts have subsisted between such debtor and any other person, the trustees may set off such credits or…
Citator
N.Y. Debt. & Cred. Law § 192 — Set-off of mutual debts or credits is in force in the current edition of the Code, and nothing recorded condemns it.
§ 192. Set-off of mutual debts or credits. Where mutual credit has been given by any debtor, except a debtor proceeding under the fifth article of this chapter, and any other person, or mutual debts have subsisted between such debtor and any other person, the trustees may set off such credits or debts, and pay the proportion or receive the balance due. But no set-off shall be allowed of any claim or debt, which would not have been entitled to a dividend as hereinbefore directed.