New York Business Corporation Law Article 12 - RECEIVERSHIP

• 1201 - Action by Judgment Creditor for Sequestration.
  Where final judgment for a sum of money has been rendered against a corporation, and an execution issued thereupon to the sheriff of the county...
• 1202 - Appointment of Receiver of Property of a Domestic or Foreign Corporation.
  (a) A receiver of the property of a corporation can be appointed only by the court, and in one of the following cases: (1) An...
• 1203 - Temporary and Permanent Receiver.
  (a) At any stage before final judgment or final order in an action or special proceeding brought under this article, the court may appoint one...
• 1204 - Oath and Security.
  (a) A receiver, before entering upon his duties, shall: (1) Take and subscribe an oath that he will faithfully, honestly and impartially discharge the trust...
• 1205 - Designation of Depositories by Court.
  All orders appointing a receiver of a corporation shall designate therein one or more places of deposit, wherein all funds of the corporation not needed...
• 1206 - Powers of Permanent Receiver.
  (a) A permanent receiver, upon qualifying under section 1204 (Oath and security), shall be vested with title to all the property of the corporation wherever...
• 1207 - Duties of Receiver Upon Appointment.
  (a) Upon appointment and qualification, a receiver shall have the following duties: (1) To give immediate notice of his appointment by publication once a week...
• 1208 - Penalty for Concealing Property From Receiver.
  Any persons having possession of property belonging to the corporation, who shall wrongfully withhold such property from the receiver after the day specified in the...
• 1209 - Recovery of Assets.
  (a) Whenever a receiver, by verified petition to the supreme court at a special term held in the judicial district in which he was appointed...
• 1210 - Order of Payment by Receiver.
  (a) Laborers' wages shall be preferred claims and entitled to payment before any other creditors out of the assets of the corporation in excess of...
• 1211 - Final Distribution by Receiver.
  (a) If there remains property of the corporation after the first distribution, the receiver shall, within one year thereafter, make a final distribution among the...
• 1212 - Disposition of Moneys Retained; Surplus; Unclaimed Distributions.
  (a) When any action pending at the time of the final distribution shall be terminated, the receiver shall apply the moneys retained by him to...
• 1213 - Omission or Default of Receiver.
  Upon notice to the attorney-general and upon such notice to creditors or others interested as the court shall direct, the court may, in the furtherance...
• 1214 - Application by Attorney-General for Removal of Receiver and to Close Receivership.
  (a) Whenever he deems it to be to the advantage of the shareholders, creditors or other persons interested in the assets of any corporation for...
• 1215 - Resignation by Receiver; Filling Any Vacancy.
  (a) A receiver may petition the court appointing him for an order to show cause why he should not be permitted to resign. (b) The...
• 1216 - Final Accounting; Notice; Duty of Attorney-General.
  (a) Within one year after qualifying, the receiver shall apply to the court for a final settlement of his accounts and for an order for...
• 1217 - Commissions.
  (a) A receiver shall be entitled, in addition to his necessary expenses, to such commissions upon the sums received and disbursed as may be allowed...
• 1218 - Special Provisions Relating to Actions or Special Proceedings Against Foreign Corporations.
  (a) In any action or special proceeding brought against a foreign corporation under this article, the following provisions shall apply: (1) Service of the summons...

Last modified: February 3, 2019