§ 74 — When insolvent cannot be discharged

New York § 74

• Jurisdiction: New York
• Law DCD: Debtor & Creditor
• Art. 3: Insolvent's Discharge From Debts

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§ 74. When insolvent cannot be discharged. In either of the following\ncases, the petitioner is not entitled to a discharge:\n 1. Where it appears, upon the hearing or trial, that, after making the\nschedule annexed to his petition, he has collected a debt or demand, or\ntransferred, absolutely, conditionally, or otherwise, any of his\nproperty, not exempt by law from levy and sale by virtue of an\nexecution, and he neglects or refuses forthwith to pay over to the\nclerk, the full amount of all debts and demands so collected, and the\nfull value of all property so transferred, except so much of the money,\nand of the value of the property, as appears to have been necessarily\nexpended by him for the support of himself or his family.\n 2. Where it appears, in like manner, that the petitioner, within two\nyears before presenting the petition, has, in contemplation of his\nbecoming insolvent, or of his petitioning for his discharge, or knowing\nof his insolvency, made an assignment, sale, or transfer, either\nabsolute or conditional, of any of his property, or of any interest\ntherein, or confessed a judgment, or given any security, with a view of\ngiving a preference to a creditor for an antecedent debt.\n