Title DCD, Debtor & Creditor

§ 1. Short title. This chapter shall be known as the "Debtor and\nCreditor Law."\n

§ 10. Action on bond; application of recovery. Any action brought upon\nan assignee's bond may be prosecuted by a party in interest by leave of\nthe court; and all moneys realized thereon shall be applied by direction\nof the judge in satisfaction of the debts of the assignor in…

§ 100. Who may be exempted, and by what court. An insolvent debtor may\nbe exempted from arrest, or discharged from imprisonment, as prescribed\nin this article. For that purpose, he must apply, by petition, to the\ncounty court of the county in which he resides, or is imprisone…

§ 101. Contents of petition. The petition must be in writing; it must\nbe signed by the insolvent, and specify his residence, and also, if he\nis in prison, the county in which he is imprisoned, and the cause of his\nimprisonment. It must set forth, in substance, that he is unab…

§ 102. Petitioner's schedule. The petitioner must annex to his\npetition, a schedule, in all respects similar to that required of an\ninsolvent, as prescribed in section sixty-three of this chapter.\n

§ 103. Petitioner's affidavit. An affidavit, in the following form,\nsubscribed and taken by the petitioner, before the county judge, or, in\nthe city of New York, before a justice of the supreme court, must be\nannexed to the schedule:\n "I, ---------, do swear" (or "affirm," a…

§ 104. Order to show cause. The petition, and the papers annexed\nthereto, must be presented to the court, and filed with the clerk. The\ncourt must thereupon make an order, requiring all the creditors of the\npetitioner to show cause before it, at a time and place therein\nspec…

§ 105. Proceedings on return of order. The provisions of sections\nsixty-seven, sixty-eight, sixty-nine, seventy, seventy-one,\nseventy-three, and seventy-four of this chapter apply to a special\nproceeding, taken as prescribed in this article.\n

§ 106. Order directing assignment; assignment pursuant thereto. An\norder, directing the execution of an assignment, must be made by the\ncourt, where it appears, by the verdict of the jury, or, if a jury has\nnot been demanded, or the jurors have been discharged by reason of th…

§ 107. When discharge to be granted; effect thereof. Upon the\nproduction by the petitioner, of the certificates of the trustee or\ntrustees, and the county clerk, to the effect prescribed in section\nseventy-nine of this chapter, the court must grant to the petitioner a\ndischa…

§ 108. Discharge and other papers to be recorded. The provisions of\nsection eighty-two of this chapter apply to the discharge, and to the\npetition and other papers upon which it was granted.\n

§ 109. Petitioner to be released from imprisonment. If, at the time\nthe discharge is granted, the petitioner is imprisoned, by virtue of an\nexecution against his person issued, or of an order of arrest made, in\nan action or special proceeding founded upon a debt, liability, o…

§ 11. Proceedings in case of death of assignee. In case an assignee\nshall die during the pendency of any proceeding under this article, or\nat any time subsequent to the filing of any bond required herein, his\npersonal representative or successor in office, or both, may be bro…

§ 110. Debts and demands not affected. A debt, demand, judgment, or\ndecree, against an insolvent, discharged as prescribed in this article,\nis not affected or impaired by the discharge; but it remains valid and\neffectual, against all his property, acquired after the execution…

§ 111. Discharge, when void. A discharge, granted to an insolvent as\nprescribed in this article, is void, in the same cases, so far as they\nare applicable, in which a discharge, granted as prescribed in article\nthird of this chapter, is therein declared to be void; and the va…

§ 12. Notices to parties interested in the estate as creditors or\notherwise. Parties interested in the estate as creditors, or parties\notherwise interested, if the judge so directs, shall have at least ten\ndays' notice by mail to their respective addresses as they appear in t…

§ 120. Who may be discharged. A person, imprisoned by virtue of an\nexecution to collect a sum of money, issued in a civil action or special\nproceeding, may be discharged from the imprisonment, as prescribed in\nthis article. A person who has been admitted to the jail liberties…

§ 121. To what court application to be made. Application for such a\ndischarge must be made by petition, addressed to the court from which\nthe execution issued; or to the county court of the county in which he\nis imprisoned; or, if he is imprisoned in the city of New York, to …

§ 122. When petition may be presented. A person so imprisoned may\napply for such a discharge, at any time; unless the sum, or, where he is\nimprisoned by virtue of two or more executions, the aggregate of the\nsums, for which he is imprisoned, exceeds five hundred dollars; in w…

§ 123. Contents of petition; schedule. The petition must be in\nwriting; it must be signed by the petitioner; and it must state the\ncause of his imprisonment, by setting forth a copy, or the substance of\nthe execution, or, if there are two or more executions, of each of them.\…

§ 124. Affidavit of petitioner. An affidavit, in the following form,\nsubscribed and taken by the petitioner, on the day of the presentation\nof the petition, must be annexed to the petition and schedule:\n "I, ----------, do swear" (or "affirm," as the case may be), "that the\n…

§ 125. Notice to creditors. At least fourteen days before the petition\nis presented, the petitioner must serve, upon the creditor in each\nexecution, by virtue of which he is imprisoned, a copy of the petition,\nand of the schedule; together with a written notice of the time wh…

§ 126. Notice to creditors; when service cannot be made. The papers,\nspecified in the last section, may be served, either upon the creditor\nor his representative, or upon the attorney whose name is subscribed to\nthe execution; and, in either case, in the manner prescribed in …

§ 127. Notice to creditors; when state a creditor. Where the state is\na creditor, the papers must be served upon the attorney-general, who\nmust represent the state in the proceedings.\n

§ 128. Proceedings on presentation of petition. Upon the presentation\nof the petition, schedule, and affidavit, with due proof of service or\npublication, as prescribed in the last three sections, the court must\nmake an order, directing the petitioner to be brought before it, …

§ 129. Adjournment. Upon sufficient cause being shown by a creditor,\nthe court may, from time to time, adjourn the hearing; but not to a day\nlater than three months after the presentation of the petition.\n

§ 13. Debts which may be proved against the estate. Debts of the\nassignor may be proved and allowed against his estate which are (a) a\nfixed liability, as evidenced by a judgment absolutely owing at the time\nof the assignment, or (b) a claim for taxable costs incurred before …

§ 130. Proceedings on adjourned day. An objection to a matter of form\nshall not be received upon an adjourned day; and, unless the opposing\ncreditor satisfies the court that the proceedings on the part of the\npetitioner are not just and fair, the court must direct an assignme…

§ 131. Assignment; effect thereof. The assignment must be acknowledged\nor proved, and certified, in like manner as a deed to be recorded in the\ncounty, and must be recorded in the clerk's office of the county where\nthe petitioner is imprisoned. Where it appears, from the sche…

§ 132. Discharge; when to be granted. Upon the production, by the\npetitioner, of satisfactory evidence, that the petitioner has actually\ndelivered to the trustee or trustees all the property so directed to be\nassigned, which is capable of delivery; or upon the petitioner's gi…

§ 133. Petitioner's property still liable. Notwithstanding such a\ndischarge, the judgment creditor in the execution has the same remedies,\nagainst the property of the petitioner, for any sum due upon his\njudgment, which he had before the execution was issued; but the\npetitio…

§ 134. When creditor may issue new execution against person. If the\npetitioner is convicted of perjury, committed in any of the proceedings\nupon his petition, any judgment creditor, by virtue of whose execution\nhe was imprisoned, may issue a new execution against his person.\…

§ 135. Powers and duties of trustee. The trustee must collect the\ndemands, and sell the other property assigned to him. He must apply the\nproceeds thereof, after deducting his commissions and expenses allowed\nby law, as follows:\n 1. To the payment of the jail fees, upon the …

§ 136. Creditor may notify debtor to apply for discharge. Where a\nperson has been imprisoned by virtue of an execution, for the space of\nthree months after he was entitled, by the provisions of this article,\nto apply for a discharge; and has neither made such an application, …

§ 137. Effect of failure so to apply. If the prisoner does not, within\nthirty days after personal service of such a notice, either present a\npetition to the proper court, as prescribed in article third of this\nchapter, or serve, upon the creditor giving the notice, a copy of …

§ 138. Debtors to state or United States not to be discharged. Neither\nof the following named persons shall be discharged from imprisonment,\nunder the provisions of this article:\n 1. A person owing a debt or duty to the United States.\n 2. A person owing a debt or duty to the…

§ 139. Discharge on application of taxpayer. Where a person has been\narrested by virtue of an execution issued upon a judgment of fifty\ndollars or under, and has been kept imprisoned at the expense of the\ncounty for six months or over, the court out of which the execution\nis…

§ 14. Duties of assignee. It shall be the duty of the assignee to\ncollect and reduce to money the property of the estate, under the\ndirection of the court; report promptly to the court any claims\npresented to him which are not provable, or are incorrect or false and\nshall al…

§ 15. Power of court. The court shall have power:\n 1. To allow claims, disallow claims, reconsider allowed or disallowed\nclaims, and allow or disallow them against the estate.\n 2. To authorize the business of assignor to be conducted for limited\nperiods by assignee, if neces…

§ 150. Cancellation of record of judgment discharged in bankruptcy. 1.\nAt any time after one year has elapsed since a bankrupt or debtor was\ndischarged from his debts, pursuant to the acts of congress relating to\nbankruptcy, the bankrupt or debtor, his receiver, trustee or an…

§ 151. Right of set off against unmatured debts. Every debtor shall\nhave the right upon:\n (a) the filing of a petition under any of the provisions of the\nfederal bankruptcy act or amendments thereto or the commencement of any\nproceeding under any foreign bankruptcy, insolven…

§ 16. Examination of witnesses. 1. The judge may also, at any time, on\npetition of the assignee or any party interested, order the examination\nof witnesses and the production of any books and papers by any party or\nwitness before him or before a referee appointed by him for s…

§ 160. Trustees for creditors. All trustees, appointed under any\nauthority, conferred by articles three, four and five of this chapter,\nin the several cases therein contemplated, are hereby declared to be\ntrustees of the estate of the debtor, in relation to whose property the…

§ 161. Sole trustee. When one trustee only shall be appointed, all\nthe provisions herein contained, in reference to several trustees, shall\napply to him.\n

§ 162. Two or more trustees. When there are more trustees than one\nappointed, the debts and property of the debtor may be collected and\nreceived by any one of them; and when there are more than two trustees\nappointed, every power and authority conferred by this chapter on the…

§ 163. Death of trustee; survivor or successor. The survivor or\nsurvivors of any trustee, shall have all the powers and rights given by\nthis chapter to trustees. All property in the hands of any trustee at\nthe time of his death, removal or incapacity, shall be delivered to th…

§ 164. Trustees' oath. Before proceeding to the discharge of any of\ntheir duties, all such trustees shall take and subscribe an oath, that\nthey will well and truly execute the trust by their appointment reposed\nin them, according to the best of their skill and understanding; …

§ 165. Vesting of property in trustees. The trustees taking such oath,\nshall be deemed vested with all the estate, real and personal, of such\ndebtor, except such as is exempted by articles three, four and five from\nthe execution of the assignment, in said articles directed.\n…

§ 166. Powers of trustees. The said trustees shall have power:\n 1. To sue in their own names or otherwise, and recover all the estate,\ndebts and things in action, belonging or due to such debtor, in the same\nmanner and with the like effect as such debtor might or could have d…

§ 167. Notice to debtors, bailees and creditors. The trustees,\nimmediately upon their appointment, shall give notice thereof for at\nleast three weeks in a newspaper published in the county where\napplication was made and therein shall require:\n 1. All persons indebted to such…