Statute · New York Debtor & Creditor Law
N.Y. Debt. & Cred. Law § 32 — Effect of concealment
N.Y. Debt. & Cred. Law § 32
- Type
- Statute
- Source
- New York Debtor & Creditor Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 32. Effect of concealment. Any secured creditor who with intent to evade the provisions of this article fails to disclose the existence of the security shall not be entitled to receive or retain dividends out of the general assets, unless he thereafter releases or surrenders to the liquidator…
Citator
N.Y. Debt. & Cred. Law § 32 — Effect of concealment is in force in the current edition of the Code, and nothing recorded condemns it.
§ 32. Effect of concealment. Any secured creditor who with intent to evade the provisions of this article fails to disclose the existence of the security shall not be entitled to receive or retain dividends out of the general assets, unless he thereafter releases or surrenders to the liquidator the security which he has failed to disclose, or unless he procures such release or surrender if the security is in the possession of an indorser, surety, or other person secondarily liable for the insolvent debtor.