New York Debtor & Creditor Law Section 277 - Conveyance of partnership property.

277. Conveyance of partnership property. Every conveyance of partnership property and every partnership obligation incurred when the partnership is or will be thereby rendered insolvent, is fraudulent as to partnership creditors, if the conveyance is made or obligation is incurred,

a. To a partner, whether with or without a promise by him to pay partnership debts, or

b. To a person not a partner without fair consideration to the partnership as distinguished from consideration to the individual partners.

Last modified: February 3, 2019