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New York Consolidated Laws, Debtor and Creditor Law - DCD § 75. When assignment to be directed

Current as of January 01, 2026 | Updated by Findlaw Staff

An order, directing the execution of an assignment, must be made by the court, where it appears, by the verdict of the jury;  or, if a jury has not been demanded, or the jurors have been discharged by reason of their inability to agree, where it satisfactorily appears to the court;  as follows:

1. That the petitioner is justly and truly indebted to the consenting creditors, in sums which amount, in the aggregate, to two-thirds of all the debts, which the petitioner owed, at the time of presenting his petition, to creditors residing within the United States.

2. That he has honestly and fairly given a true account of his property.

3. That he has, in all things, conformed to the matters required of him by this article.

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Cite this article: FindLaw.com - New York Consolidated Laws, Debtor and Creditor Law - DCD § 75. When assignment to be directed - last updated January 01, 2026 | https://codes.findlaw.com/ny/debtor-and-creditor-law/dcd-sect-75/

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