New York § 107 When discharge to be granted; effect thereof

New York Statutes

§ 107 — When discharge to be granted; effect thereof

New York § 107

Law DCDDebtor & Creditor

Art. 4Insolvent's Exemption From Arrest and Imprisonment

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Bluebook

N.Y. Debtor & Creditor § 107 (2026).

Text

  § 107. When discharge to be granted; effect thereof. Upon the\nproduction by the petitioner, of the certificates of the trustee or\ntrustees, and the county clerk, to the effect prescribed in section\nseventy-nine of this chapter, the court must grant to the petitioner a\ndischarge, declaring that the petitioner is forever thereafter exempted\nfrom arrest or imprisonment, by reason of any debt due at the time of\nmaking the assignment, or contracted before that time, though payable\nafterwards; or by reason of any liability incurred by him, by making or\nindorsing a promissory note, or by accepting, drawing, or indorsing a\nbill of exchange, before the execution of the assignment; or in\nconsequence of the payment, by any party to such a note or bill, of the\nwhole or any part of the mon

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§ 107. When discharge to be granted; effect thereof. Upon the\nproduction by the petitioner, of the certificates of the trustee or\ntrustees, and the county clerk, to the effect prescribed in section\nseventy-nine of this chapter, the court must grant to the petitioner a\ndischarge, declaring that the petitioner is forever thereafter exempted\nfrom arrest or imprisonment, by reason of any debt due at the time of\nmaking the assignment, or contracted before that time, though payable\nafterwards; or by reason of any liability incurred by him, by making or\nindorsing a promissory note, or by accepting, drawing, or indorsing a\nbill of exchange, before the execution of the assignment; or in\nconsequence of the payment, by any party to such a note or bill, of the\nwhole or any part of the money secured thereby, whether the payment is\nmade before or after the execution of the assignment, with the\nexceptions specified in section one hundred and thirty-eight of this\nchapter. The discharge shall have the effect therein declared, as\nprescribed in this section.\n