N.Y. Debtor & Creditor Law § 252
Payment by committee or conservator of claims
Redline — January 1, 2015 → current.View current text →
Current — January 1, 2023
As of January 1, 2015
§ 252. Payment by committee or conservator of claims. A committee of\nthe property of a person, incompetent by reason of mental illness,\nmental retardation or alcohol abuse, to manage his affairs, or a\nconservator of the property of a conservatee, may, under direction of\nthe court exercising jurisdiction of such estate, after payment of the\nexpenses, disbursements and commissions of such trust, apply so much of\nthe funds and property of said estate remaining in his hands as such\ncommittee or conservator, as may be necessary to pay and discharge the\nproper claims of creditors who have presented claims pursuant to the\nnotice in this article provided for, to the payment of such claims, and\nif the property so remaining be insufficient to pay such claims in full,\nthen the committee or conservator may distribute the same according to\nlaw among the creditors who have presented and proved their claims as in\nthis article provided, and such payment, when so made in good faith and\nunder direction of such court, shall relieve such committee or\nconservator and his sureties from liability to creditors who have failed\nto present their claims as in this article provided.\n
§ 252. Payment by committee or conservator of claims. A committee of\nthe property of a person, incompetent by reason of mental illness, a\ndevelopmental disability or alcohol abuse, to manage his or her affairs,\nor a conservator of the property of a conservatee, may, under direction\nof the court exercising jurisdiction of such estate, after payment of\nthe expenses, disbursements and commissions of such trust, apply so much\nof the funds and property of said estate remaining in his or her hands\nas such committee or conservator, as may be necessary to pay and\ndischarge the proper claims of creditors who have presented claims\npursuant to the notice in this article provided for, to the payment of\nsuch claims, and if the property so remaining be insufficient to pay\nsuch claims in full, then the committee or conservator may distribute\nthe same according to law among the creditors who have presented and\nproved their claims as in this article provided, and such payment, when\nso made in good faith and under direction of such court, shall relieve\nsuch committee or conservator and his or her sureties from liability to\ncreditors who have failed to present their claims as in this article\nprovided.\n
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.