N.Y. Debt. & Cred. Law § 54

Current through 2024 NY Law Chapter 443

Section 54 - Consent of executor, administrator, receiver, or trustee

An executor or administrator may become a consenting creditor, under the order of the surrogate's court from which his letters issued. A trustee, official assignee, or receiver of the property of a creditor of the petitioner, whether created by operation of law or by the act of parties, may become a consenting creditor, under the order of a justice of the supreme court. A person who becomes a consenting creditor, as prescribed in this section, is chargeable only for the sum which he actually receives, as a dividend of the insolvent's property.

N.Y. Debt. and Cred. Law § 54