Title DCD, Debtor & Creditor

§ 210. Order permitting renunciation. If it shall appear that the\nproceedings of such trustee, in relation to his trust, have been fair\nand honest, and particularly in the collection of the property and debts\nvested in him; and if such court be satisfied, that for any reason,…

§ 211. Assignment by renouncing trustee. Such assignment shall be\nexecuted by such trustee, to such person, or persons, as the court shall\nappoint for that purpose; and in the appointment, such persons as shall\nhave been named to be assignees by the creditors of such debtor, …

§ 212. Effect of assignment. Such assignment shall transfer to the\npersons to whom it shall be made, all the remaining estate and effects,\nvested in the trustee so renouncing; and such new assignee shall have\nthe same powers, be subject to the same duties, and be entitled to …

§ 213. Order for discharge of trustee from trust. Upon producing to\nthe court allowing such assignment, the certificate of the assignee,\nduly proved by the oath of a subscribing witness, that such assignment\nhas been duly made, and the property capable of delivery, belonging …

§ 214. Effect of order. Upon such order being granted, such trustee\nshall be discharged from the trust reposed in him, and his power and\nauthority shall thereupon cease; but he shall, notwithstanding, remain\nsubject to any liability he may have incurred, at any time previous …

§ 215. Recording order and filing papers. Such new assignment, upon\nbeing duly proved or acknowledged, shall be recorded in the office of\nthe clerk of the county where the order appointing the original trustee\nwas entered; and the petition of the trustee, the affidavit and\np…

§ 216. Payment of expense of renunciation. The expense of all\nproceedings in effecting such renunciation and assignment, shall be paid\nby the trustee making the application.\n

§ 217. New trustee in place of one absent. Whenever any trustee\nappointed under any authority conferred by any of the provisions of\narticles three, four or five of this chapter, shall remove from and\ncontinue to reside out of this state for one year, it shall be lawful\nfor t…

§ 218. Powers and duties of new trustee. The trustee appointed in the\nplace of the trustee so removed shall in all respects have the like\npowers and authority, and be subject to the same control, obligations\nand responsibilities as the trustee originally appointed; and the\na…

§ 22. Wages and commissions and preferred claims. 1. In all\ndistribution of assets under all assignments made in pursuance of this\narticle, the wages or salaries actually owing to the employees of the\nassignor or assignors at the time of the execution of the assignment for\ns…

§ 23. Limitation of preferences. In all general assignments of the\nestates of debtors for the benefit of creditors no preference created\ntherein, other than for the wages or salaries of or moneys held in trust\nfor employees under section twenty-one-a and section twenty-two or…

§ 24. Appraisal of estate in the hands of assignee. Whenever it shall\nbecome necessary to appraise in whole or in part any estate in the hands\nof any assignee for the benefit of creditors, the persons whose duty it\nshall be to make such appraisal shall value the real estate a…

§ 250. Notice to creditors of incompetent person or conservatee. A\ncourt exercising jurisdiction over the property of an incompetent person\nor conservatee may, upon the petition of a committee of the property of\nsuch incompetent person or of the conservator of the property of…

§ 251. Authority for committee or conservator to compromise claims. A\ncourt exercising jurisdiction over the property of a person with a\nmental illness, or conservatee may, upon the application of the\ncommittee of the property of such incompetent person or the conservator\nof…

§ 252. Payment by committee or conservator of claims. A committee of\nthe property of a person, incompetent by reason of mental illness, a\ndevelopmental disability or alcohol abuse, to manage his or her affairs,\nor a conservator of the property of a conservatee, may, under dir…

§ 253. Citation to attend judicial settlement of accounts of committee\nor conservator. A citation may be issued by the court to all parties\ninterested in the estate of such incompetent person or conservatee, as\ncreditors or otherwise, requiring them to appear in court on some…

§ 254. Service of citation. A citation to the persons interested must\nbe served on all parties, other than the petitioner, who are interested\nin the fund, including sureties of the committee or conservator; but the\ncourt may, in its discretion, dispense with the service on su…

§ 255. Proceedings on return of citation. Upon the return of such\ncitation properly served, such court shall have the powers in relation\nto such estates, claims, property and committee, which devolve on\ncourts, by virtue of section twenty-one, in relation to assignments and\n…

§ 270. Definitions. As used in this article:\n (a) "Affiliate" means:\n (1) a person that directly or indirectly owns, controls or holds with\npower to vote, twenty percent or more of the outstanding voting\nsecurities of the debtor, other than a person that holds the securities…

§ 271. Insolvency. (a) A debtor is insolvent if, at a fair valuation,\nthe sum of the debtor's debts is greater than the sum of the debtor's\nassets.\n (b) A debtor that is generally not paying the debtor's debts as they\nbecome due other than as a result of a bona fide dispute …

§ 272. Value. (a) Value is given for a transfer or an obligation if,\nin exchange for the transfer or obligation, property is transferred or\nan antecedent debt is secured or satisfied, but value does not include\nan unperformed promise made otherwise than in the ordinary course…

§ 273. Transfer or obligation voidable as to present or future\ncreditor. (a) A transfer made or obligation incurred by a debtor is\nvoidable as to a creditor, whether the creditor's claim arose before or\nafter the transfer was made or the obligation was incurred, if the\ndebto…

* § 273-a. Conveyances by defendants. Every conveyance made without\nfair consideration when the person making it is a defendant in an action\nfor money damages or a judgment in such an action has been docketed\nagainst him, is fraudulent as to the plaintiff in that action witho…

§ 274. Transfer or obligation voidable as to present creditor. (a) A\ntransfer made or obligation incurred by a debtor is voidable as to a\ncreditor whose claim arose before the transfer was made or the\nobligation was incurred if the debtor made the transfer or incurred the\nob…

§ 275. When transfer is made or obligation is incurred. For the\npurposes of this article:\n (a) a transfer is made:\n (1) with respect to an asset that is real property other than a\nfixture, but including the interest of a seller or purchaser under a\ncontract for the sale of …

§ 276. Remedies of creditor. (a) In an action for relief against a\ntransfer or obligation under this article, a creditor, subject to the\nlimitations in section two hundred seventy-seven of this article, may\nobtain:\n (1) avoidance of the transfer or obligation to the extent n…

§ 276-a. Attorney's fees in action or special proceeding under this\narticle to avoid a transfer or obligation. In an action or special\nproceeding under this article in which a judgment creditor who has been\nawarded by court order or agreement or has waived attorney's fees\nav…

§ 277. Defenses, liability, and protection of transferee or obligee.\n(a) A transfer or obligation is not voidable under paragraph one of\nsubdivision (a) of section two hundred seventy-three of this article\nagainst a person that took in good faith and for a reasonably equivale…

§ 278. Extinguishment of claim for relief. A claim for relief with\nrespect to a transfer or obligation under this article is extinguished\nunless action is brought:\n (a) under paragraph one of subdivision (a) of section two hundred\nseventy-three of this article, not later tha…

§ 279. Governing law. (a) In this section, the following rules\ndetermine a debtor's location:\n (1) A debtor who is an individual is located at the individual's\nprincipal residence.\n (2) A debtor that is an organization and has only one place of\nbusiness is located at its pl…

§ 280. Supplementary provisions. Unless displaced by the provisions of\nthis article, the principles of law and equity, including the law\nmerchant and the law relating to principal and agent, estoppel, laches,\nfraud, misrepresentation, duress, coercion, mistake, insolvency, or…

§ 281. Uniformity of application and construction. This article shall\nbe applied and construed to effectuate its general purpose to make\nuniform the law with respect to the subject of this article among states\nenacting it.\n

§ 281-a. Relation to electronic signatures in global and national\ncommerce act. This article modifies, limits, or supersedes the\nElectronic Signatures in Global and National Commerce Act, 15 U.S.C.\nSection 7001 et seq., but does not modify, limit, or supersede Section\n101(c)…

§ 282. Permissible exemptions in bankruptcy. Under section five\nhundred twenty-two of title eleven of the United States Code, entitled\n"Bankruptcy", an individual debtor domiciled in this state may exempt\nfrom the property of the estate, to the extent permitted by subsection\…

§ 283. Aggregate individual bankruptcy exemption for certain annuities\nand personal property. 1. General application. The aggregate amount the\ndebtor may exempt from the property of the estate for personal property\nexempt from application to the satisfaction of a money judgme…

§ 284. Exclusivity of exemptions. In accordance with the provisions of\nsection five hundred twenty-two (b) of title eleven of the United States\nCode, debtors domiciled in this state are not authorized to exempt from\nthe estate property that is specified under subsection (d) o…

§ 285. Alternative federal exemptions. Notwithstanding any\ninconsistent provision of law, an individual debtor may opt to exempt\nfrom property of the estate such property as is permitted to be exempted\npursuant to section five hundred twenty-two of title eleven of the\nUnited…

§ 290. Laws repealed. Of the laws enumerated in the schedule hereto\nannexed, that portion specified in the last column is hereby repealed.\n

§ 291. When to take effect. This chapter shall take effect\nimmediately.\n

§ 3. Requisites of general assignment. Every conveyance or assignment\nmade by a debtor of his estate, real or personal, or both, to an\nassignee for the creditors of such debtor, shall be in writing, and\nshall specifically state therein the residence and kind of business\ncarr…

§ 30. Definitions. As used in this article, unless the context or\nsubject matter requires otherwise:\n (a) "Liquidation proceeding" includes all assignments for the benefit\nof creditors, whether voluntary or by operation of law; equity\nreceiverships where the subject under re…

§ 31. Secured creditor's claim to disclose security. In a liquidation\nproceeding every secured creditor's claim against the general assets\nshall disclose the nature of the security. When in an equity\nreceivership it is determined that the subject under receivership is\ninsolv…

§ 32. Effect of concealment. Any secured creditor who with intent to\nevade the provisions of this article fails to disclose the existence of\nthe security shall not be entitled to receive or retain dividends out of\nthe general assets, unless he thereafter releases or surrender…

§ 33. Value of security credited upon claims. Dividends paid to\nsecured creditors shall be computed only upon the balance due after the\nvalue of all security not exempt from the claims of unsecured creditors\nand not released or surrendered to the liquidator, is determined and…

§ 34. Determination of value by secured creditor. The value of assets\nconstituting the security may be determined by one of the following\nmethods by the secured creditor:\n (1) By collection. When the asset constituting the security is an\nobligation for the payment of money, …

§ 35. Alternative determinations of value. Where valuation under the\nprovisions of section thirty-four is impracticable or would cause undue\ndelay, the court, upon petition by either the secured creditor or the\nliquidator, may order the value of the security determined by any…

§ 36. Exempt security not credited. When any creditor has legal or\nequitable security upon assets which are exempt from process for the\nsatisfaction of unsecured debts and are duly claimed as exempt by the\ninsolvent debtor, the value of such security shall not be credited upo…

§ 37. Constitutionality. If any provision of this article or the\napplication thereof to any person or circumstances is held invalid, the\ninvalidity shall not affect other provisions or applications thereof\nwhich can be given effect without the invalid provision or application…

§ 38. Uniformity of interpretation. This article shall be so\ninterpreted and construed as to effectuate its general purpose to make\nuniform the law of those states which enact it.\n

§ 4. Debtor's schedule. 1. A debtor making an assignment shall, at the\ndate thereof or within twenty days thereafter, cause to be made, and\nfiled with the county clerk of the county where such assignment is\nrecorded, and file a duplicate thereof with the assignee, an inventor…