N.Y. Debtor & Creditor Law § 32

§ 32. Effect of concealment. Any secured creditor who with intent to\nevade the provisions of this article fails to disclose the existence of\nthe security shall not be entitled to receive or retain dividends out of\nthe general assets, unless he thereafter releases or surrenders to the\nliquidator the security which he has failed to disclose, or unless he\nprocures such release or surrender if the security is in the possession\nof an indorser, surety, or other person secondarily liable for the\ninsolvent debtor.\n