New York Debtor and Creditor Law Section 23 - Limitation Of Preferences.

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  § 23.    Limitation of preferences.   In all general assignments of the
  estates of debtors for the benefit of creditors  no  preference  created
  therein, other than for the wages or salaries of or moneys held in trust
  for  employees under section twenty-one-a and section twenty-two or cash
  deposits upon purchases for future delivery of merchandise  or  services
  under section twenty-two, shall be valid.

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Last modified: July 31, 2006