New York § 488 Buying demands on which to bring an action

New York Statutes

§ 488 — Buying demands on which to bring an action

New York § 488

Law JUDJudiciary

Art. 15Attorneys and Counsellors

This text of New York § 488 (Buying demands on which to bring an action) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Judiciary § 488 (2026).

Text

  § 488. Buying demands on which to bring an action. An attorney or\ncounselor shall not:\n  1. Directly or indirectly, buy, take an assignment of or be in any\nmanner interested in buying or taking an assignment of a bond,\npromissory note, bill of exchange, book debt, or other thing in action,\nwith the intent and for the purpose of bringing an action thereon.\n  2. By himself or herself, or by or in the name of another person,\neither before or after action brought, promise or give, or procure to be\npromised or given, a valuable consideration to any person, as an\ninducement to placing, or in consideration of having placed, in his or\nher hands, or in the hands of another person, a demand of any kind, for\nthe purpose of bringing an action thereon, or of representing the\nclaimant in t

Free access — add to your briefcase to read the full text and ask questions with AI

§ 488. Buying demands on which to bring an action. An attorney or\ncounselor shall not:\n 1. Directly or indirectly, buy, take an assignment of or be in any\nmanner interested in buying or taking an assignment of a bond,\npromissory note, bill of exchange, book debt, or other thing in action,\nwith the intent and for the purpose of bringing an action thereon.\n 2. By himself or herself, or by or in the name of another person,\neither before or after action brought, promise or give, or procure to be\npromised or given, a valuable consideration to any person, as an\ninducement to placing, or in consideration of having placed, in his or\nher hands, or in the hands of another person, a demand of any kind, for\nthe purpose of bringing an action thereon, or of representing the\nclaimant in the pursuit of any civil remedy for the recovery thereof.\nBut this subdivision does not apply to:\n a. an agreement between attorneys and counselors, or either, to divide\nbetween themselves the compensation to be received;\n b. a lawyer representing an indigent or pro bono client paying court\ncosts and expenses of litigation on behalf of the client;\n c. a lawyer advancing court costs and expenses of litigation, the\nrepayment of which may be contingent on the outcome of the matter; or\n d. a lawyer, in an action in which an attorney's fee is payable in\nwhole or in part as a percentage of the recovery in the action, paying\non the lawyer's own account court costs and expenses of litigation. In\nsuch case, the fee paid to the attorney from the proceeds of the action\nmay include an amount equal to such costs and expenses incurred.\n 3. A lawyer that offers services as described in paragraphs b, c and d\nof subdivision two of this section shall not, either directly or through\nany media used to advertise or otherwise publicize the lawyer's\nservices, promise or advertise his or her ability to advance or pay\ncosts and expenses of litigation in such manner as to state or imply\nthat such ability is unique or extraordinary when such is not the case.\n 4. An attorney or counselor who violates the provisions of this\nsection is guilty of a misdemeanor.\n