N.Y. DCD Law § 36
This is the official text of N.Y. DCD Law § 36, part of New York’s DCD Law — part of the compiled statutory law of New York, published by the state as "DCD Law." Browse the sections below, each linked to its official government source.
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Exempt security not credited
Official statutory text
§ 36. Exempt security not credited. When any creditor has legal or\nequitable security upon assets which are exempt from process for the\nsatisfaction of unsecured debts and are duly claimed as exempt by the\ninsolvent debtor, the value of such security shall not be credited upon\nthe claim. Amounts realized by the creditor from such security after\nliquidation proceedings are begun shall be disregarded in computing\ndividends, unless the dividend so computed exceeds the sum actually\nowing upon the claim, in which event only the amount owing shall be\npaid.\n
Status: in_force · Read it on the official government site
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