Statute · New York Insurance Law
N.Y. Ins. Law § 5216 — Assignments of judgments to corporation
N.Y. Ins. Law § 5216
- Type
- Statute
- Source
- New York Insurance Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 5216. Assignments of judgments to corporation. (a) The corporation shall not pay any sum, in compliance with an order made for that purpose, if the claim is founded upon a judgment, except a judgment obtained against the corporation under this article, until the petitioner assigns the judgment…
Citator
N.Y. Ins. Law § 5216 — Assignments of judgments to corporation is in force in the current edition of the Code, and nothing recorded condemns it.
§ 5216. Assignments of judgments to corporation. (a) The corporation shall not pay any sum, in compliance with an order made for that purpose, if the claim is founded upon a judgment, except a judgment obtained against the corporation under this article, until the petitioner assigns the judgment to the corporation.
(b) After assignment the corporation shall be entitled to enforce the judgment for the full amount with interest and costs. Money collected on the judgment in excess of all amounts paid by the corporation shall be paid to the judgment creditor.