§ 31. Secured creditor's claim to disclose security. In a liquidation proceeding every secured creditor's claim against the general assets shall disclose the nature of the security. When in an equity receivership it is determined that the subject under receivership is insolvent, secured creditors having claims on file which do not comply with this section shall make disclosure within a time to be fixed by the court.

Terms Used In N.Y. Debtor and Creditor Law 31

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Liquidation proceeding: includes all assignments for the benefit of creditors, whether voluntary or by operation of law; equity receiverships where the subject under receivership is insolvent; and any other proceedings for distribution of assets of any insolvent debtor, whether a person, partnership, corporation or business association except proceedings under Article 74 of the insurance law and Article 13 of the banking law. See N.Y. Debtor and Creditor Law 30
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