§ 14 — Duties of assignee

New York § 14

• Jurisdiction: New York
• Law DCD: Debtor & Creditor
• Art. 2: General Assignments For the Benefit of Creditors

Text

§ 14. Duties of assignee. It shall be the duty of the assignee to\ncollect and reduce to money the property of the estate, under the\ndirection of the court; report promptly to the court any claims\npresented to him which are not provable, or are incorrect or false and\nshall also report promptly for allowance all claims presented to him\nwhich are not disputed; close up the estate as expeditiously as\npossible; furnish such information concerning the estate as may be\nrequested by parties in interest; keep regular accounts; pay dividends\nas often as is compatible with the best interests of the estate; make\nappraisals or in his discretion employ an appraiser or appraisers;\ndesignate and employ auctioneers; file an interim report within six\nmonths of assuming his duites unless excused by the court or unless the\nestate has been sooner distributed; file a final report and account at\nleast fifteen days before the final hearing to consider the judicial\nsettlement of the account.\n