State Codes and Statutes

Statutes > New-york > Dcd > Article-2-a > 32

§  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.

State Codes and Statutes

Statutes > New-york > Dcd > Article-2-a > 32

§  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.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Dcd > Article-2-a > 32

§  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.