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N.Y. NPC Law § 1209

This is the official text of N.Y. NPC Law § 1209, part of New York’s NPC Law — part of the compiled statutory law of New York, published by the state as "NPC Law." Browse the sections below, each linked to its official government source.

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Recovery of assets

Official statutory text

§ 1209. Recovery of assets.\n (a) Whenever a receiver, by verified petition to the supreme court at\na special term held in the judicial district in which the receiver was\nappointed, shall show that he or she has good reason to believe that any\nperson has in his or her possession or under his or her control, or has\nwrongfully concealed, withheld or disposed of, any property of the\ncorporation, or that any person can testify concerning such facts, the\ncourt, with or without notice, shall make an order requiring such person\nto appear before the court or a referee, at a time and place designated,\nand submit to an examination concerning such facts. In such order, or at\nany time thereafter, in its discretion, the court may enjoin and\nrestrain such person from disposing of any property of the corporation\nin his or her possession or under his or her control.\n (b) In any examination under such order, the court may confer immunity\nin accordance with the provisions of section six hundred nineteen-c of\nthe code of criminal procedure; provided that no immunity shall be\nconferred except upon twenty-four hours prior written notice to the\nappropriate district attorney having an official interest therein.\n (c) A person so ordered to appear shall be entitled to the same fees\nand mileage, to be paid at the time of serving the order, as are allowed\nby law to witnesses subpoenaed to attend and testify in an action in the\nsupreme court, and shall be subject to the same penalties upon failure\nto appear and testify in obedience to such order as are provided by law\nin the case of witnesses who fail to obey a subpoena to appear and\ntestify in an action.\n (d) A person appearing for examination in obedience to such order\nshall be sworn, and shall be entitled to be represented on such\nexamination by counsel, and may be cross-examined, or may make a\nvoluntary statement in his own behalf concerning the subject of his\nexamination.\n (e) The testimony taken under such order shall be signed and sworn to\nby the person examined, and be filed in the office of the clerk of the\ncounty where the action or proceeding is pending. If it shall appear\nthat any person is wrongfully concealing or withholding, or has in his\nor her possession or under his or her control, any property of the\ncorporation, on notice to such person, the court may make an order\nrequiring such person forthwith to deliver it to the receiver, subject\nto the further order of the court.\n

Status: in_force · Read it on the official government site

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About this page: Statute text is reproduced from official government publishers via the Open US Law dataset (Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine (Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.