§ 18 — Jurisdiction of the supreme court

New York § 18

• Jurisdiction: New York
• Law CCO: Cooperative Corporations
• Art. 2: Formation and Dissolution of Cooperative Corporations; Classes; Powers; By-laws

Text

§ 18. Jurisdiction of the supreme court. In the case of a corporation\ndissolving as provided in this chapter, the supreme court, upon the\npetition of the committee or a majority of them, or in a proper case,\nupon the petition of a creditor or member, or upon the petition of the\nattorney-general, upon notice to all of the committee and to such other\ninterested persons as the court may specify from time to time may order\nand adjudge in respect to the following matters:\n 1. The giving of notice by publication or otherwise of the time and\nplace for the presentation of all claims and demands against the\ncorporation, which notice may require all creditors of and claimants\nagainst the corporation to present in writing and in detail at the place\nspecified their respective accounts and demands to the committee by a\nday therein specified, which shall not be less than forty days from the\nservice or first publication of such notice.\n 2. The payment or satisfaction in whole or in part of claims and\ndemands against the corporation, or the retention of moneys for such\npurpose.\n 3. The presentation and filing of intermediate and final accounts of\nthe committee, the hearing thereon, the allowance and disallowance\nthereof, and the discharge of the committee or any of them, from their\nduties and liabilities.\n 4. The administration of any trust or the disposition of any property\nheld in trust by or for the corporation.\n 5. The sale and dispostion of any remaining property of the\ncorporation and the distribution of such property or its proceeds among\nthe members or persons entitled thereto.\n 6. Such matters as justice may require.\n All orders and judgments shall be binding upon the corporation, its\nproperty and assets, its committee, members, creditors and all claimants\nagainst it.\n