§ 32. Effect of concealment.
85 words·~1 min read·
/ny/debtor-creditor/secured-creditors/32·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 32. Effect of concealment. Any secured creditor who with intent to
evade the provisions of this article fails to disclose the existence of
the security shall not be entitled to receive or retain dividends out of
the general assets, unless he thereafter releases or surrenders to the
liquidator the security which he has failed to disclose, or unless he
procures such release or surrender if the security is in the possession
of an indorser, surety, or other person secondarily liable for the
insolvent debtor.