2012 New York Consolidated Laws
RPP - Real Property
Article 4-A - (124 - 130-K) TRUST INDENTURES AND INTERESTS THEREIN
130-F - Actions for accounting by minority groups; expenses thereof.

 
    §  130-f. Actions for accounting by minority groups; expenses thereof.
  In any special proceeding or action brought  by  or  on  behalf  of  any
  minority  bondholder  or group of minority bondholders, or any person or
  group of persons not holding at least fifty-one per centum of the  stock
  or  bonds  of  the mortgage issue, but claiming an interest in the trust
  property,  for  a  judicial  accounting,  the  court   may   take   into
  consideration the information as to income and disbursements theretofore
  furnished to bondholders, the merits and good faith of the proceeding or
  action,  and whether the accounting will be of value to the bondholders,
  as well as the cost of such accounting, and the court may  require  that
  the  petitioner  or plaintiff furnish a surety company bond to indemnify
  the estate against the expenses of the accounting, including fees of the
  referee to take the accounting, stenographic fees, and the  expenses  of
  the  trustee,  and  may  direct  that,  if  it  should  appear  that the
  accounting result in any practical benefit to all the  bondholders,  the
  court should then, in its discretion, release the indemnity, and that if
  no  such  benefit  accrue,  the petitioner or plaintiff and his attorney
  should receive no compensation, and the trust fund should be  reimbursed
  for the expenses saddled upon it by reason thereof.