N.Y. Debtor & Creditor Law § 6
Bond of assignee
New York · New York Debtor & Creditor Law · Status: effective · Effective 2014-09-22
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- N.Y. Debtor & Creditor Law § 6, Bond of assignee, New York, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/1099488
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Full text
§ 6. Bond of assignee. The assignee named in any such assignment
shall, within thirty days after the date thereof, and before he shall
have any power or authority to sell, dispose of or convert to the
purposes of the trust any of the assigned property, enter into a bond to
the people of the state of New York, in an amount to be ordered and
directed by the judge, with sufficient sureties to be approved of by
such judge, and conditioned for the faithful discharge of the duties of
such assignee, and for the due accounting for all moneys received by
him, which bond shall be filed in the clerk's office of the county where
such assignment is recorded, but in case the debtor shall fail to
present such inventory within the twenty days required, then the
assignee, before ten days thereafter shall have elapsed, may apply to
said judge by verified petition for leave to file a provisional bond,
until such time as he may be able to present the schedule or inventory
as hereinbefore provided.