N.Y. Not-For-Profit Corp. Law § 1112

§ 1112. Certain sales, transfers, security interests and judgments void.\n A sale, mortgage, conveyance or other transfer of, or the creation of\na security interest in any property of a corporation made, without prior\napproval of the court, after service upon the corporation of a summons\nin an action, or of an order to show cause in a special proceeding,\nunder this article in payment of or as security for an existing or prior\ndebt or for any other or for no consideration, or a judgment thereafter\nrendered against the corporation by confession or upon the acceptance of\nany offer, shall be void as against such persons and, to such extent, if\nany, as the court shall determine.\n