View Our Newest Version Here

2012 New York Consolidated Laws
DCD - Debtor & Creditor
Article 2 - (2 - 24) GENERAL ASSIGNMENTS FOR THE BENEFIT OF CREDITORS
21 - Trial, costs and commissions.


NY Debt & Cred L § 21 (2012) What's This?
 
    §  21. Trial, costs and commissions. The court, in its discretion, may
  order a trial by jury or before a referee,  of  any  disputed  claim  or
  matter  arising  under  the  provisions  of  this article. It may in its
  discretion award reasonable counsel  fees  and  costs,  determine  which
  party  shall  pay  the  same, and make all necessary rules to govern the
  practice under this article. The assignee  or  assignees  named  in  any
  assignment  shall  receive for his or their services a commission of not
  to exceed five per centum on the whole sum which will have come into his
  or their hands, except in a case where such percentage shall  not  equal
  two  hundred  dollars in which case the court may grant such a sum which
  with such percentage shall equal two hundred dollars.  If  the  assignee
  continues  the  business the court may allow him additional compensation
  equal to what he might be allowed as hereinabove provided.
    The actual and necessary expenses incurred  by  the  assignee  in  the
  administration  of  the  estate shall be reported in detail, under oath,
  and examined and approved or disapproved by the court. If approved  they
  shall be paid out of the estate.

Disclaimer: These codes may not be the most recent version. New York may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.