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State Law
Federal Law
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New York Debtor and Creditor Law Section 14 - Duties Of Assignee.Legal Research Home > New York Lawyer > Debtor and Creditor > New York Debtor and Creditor Law Section 14 - Duties Of Assignee. § 14. Duties of assignee. It shall be the duty of the assignee to collect and reduce to money the property of the estate, under the direction of the court; report promptly to the court any claims presented to him which are not provable, or are incorrect or false and shall also report promptly for allowance all claims presented to him which are not disputed; close up the estate as expeditiously as possible; furnish such information concerning the estate as may be requested by parties in interest; keep regular accounts; pay dividends as often as is compatible with the best interests of the estate; make appraisals or in his discretion employ an appraiser or appraisers; designate and employ auctioneers; file an interim report within six months of assuming his duites unless excused by the court or unless the estate has been sooner distributed; file a final report and account at least fifteen days before the final hearing to consider the judicial settlement of the account. New York Lawyers
Last modified: July 31, 2006 |