N.Y. Partnership Law 71-A – Payment of wages by receivers
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§ 71-a. Payment of wages by receivers. Upon the appointment of a receiver of a partnership the wages of the employees of such partnership shall be preferred to every other debt or claim.
Terms Used In N.Y. Partnership Law 71-A
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.