§ 135. Powers and duties of trustee. The trustee must collect the\ndemands, and sell the other property assigned to him. He must apply the\nproceeds thereof, after deducting his commissions and expenses allowed\nby law, as follows:\n 1. To the payment of the jail fees, upon the imprisonment and\ndischarge of the petitioner.\n 2. If any surplus remains, to the payment of the creditors, by virtue\nof whose executions the petitioner was imprisoned, when he presented his\npetition; or, if there is not enough to pay them in full, to the\npayment, to each, of a proportionate part of the sum due upon his\nexecution.\n 3. If any surplus remains, he must pay it over to the petitioner, or\nhis executor or administrator.\n Personal service upon a creditor, or his attorney, of written notice\nof the time and place of making a distribution, as prescribed in\nsubdivision second of this section, has the same effect as publishing a\nnotice thereof, in a case prescribed by law.\n
N.Y. Debtor & Creditor Law § 135
Powers and duties of trustee
2014-09-22
Official source: NYS Open Legislation (New York State Senate). Reproduced from public-domain New York statutes; confirm against the official source for the current text. Not legal advice.