N.Y. Debtor & Creditor Law Section 167
Notice to debtors, bailees and creditors


The trustees, immediately upon their appointment, shall give notice thereof for at least three weeks in a newspaper published in the county where application was made and therein shall require:

1.

All persons indebted to such debtor, by a day and at a place therein to be specified, to render an account of all debts and sums of money owing by them respectively, to such trustees, and to pay the same;

2.

All persons having in their possession any property or effects of such debtor, to deliver the same to the said trustees by the day so appointed;

3.

All the creditors of such debtor to deliver their respective accounts and demands to the trustees or one of them, by a day to be therein specified, not less than forty days from the first publication of such notice.

Source: Section 167 — Notice to debtors, bailees and creditors, https://www.­nysenate.­gov/legislation/laws/DCD/167 (updated Sep. 22, 2014; accessed Jun. 22, 2024).

160
Trustees for creditors
161
Sole trustee
162
Two or more trustees
163
Death of trustee
164
Trustees’ oath
165
Vesting of property in trustees
166
Powers of trustees
167
Notice to debtors, bailees and creditors
168
Power to sue notwithstanding notice
169
Forfeiture for failure to comply with notice
170
Warrant on withholding account or property
171
Examination of person arrested
172
Imprisonment for contumacy
173
No discharge for defects of form
174
Penalties for connivance at escape
175
Effect of answers on examination
176
Reward to informers
177
Reference of disputed claims
178
Application for appointment of referee
179
Appointment of referee
180
Entry of order of reference
181
Powers, duties and compensation of referees
182
Filing and effect of referees’ report
183
Commission to take testimony out of county
184
Sale of property and accounts of trustees
185
Meeting of creditors and notice thereof
186
Proceedings at creditors’ meetings
187
Payment of disbursements and commissions of trustees
188
Preferred debts
189
Distribution of moneys
190
Preference of debts owing by debtor as trustee
191
Payment of debts before maturity
192
Set-off of mutual debts or credits
193
No set-off in certain cases
194
Provision for pending actions
194‑A
Provision for contingent or unliquidated liabilities
195
Penalties recovered
196
Subsequent dividends
197
Provision for neglectful creditors
198
Unclaimed dividends
199
Disposition of surplus
200
Allowance to debtor
201
Accounting by trustees
202
Trustees subject to order of court
203
Appointment of substitute trustee
204
Application by trustee for leave to renounce
205
Account upon application
206
Verification of account
207
Order to show cause
208
Publication of notice
209
Hearing
210
Order permitting renunciation
211
Assignment by renouncing trustee
212
Effect of assignment
213
Order for discharge of trustee from trust
214
Effect of order
215
Recording order and filing papers
216
Payment of expense of renunciation
217
New trustee in place of one absent
218
Powers and duties of new trustee

Accessed:
Jun. 22, 2024

Last modified:
Sep. 22, 2014

§ 167’s source at nysenate​.gov

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