N.Y. Financial Services Law Section 1007
Assignability

  • liens

(a)

The contingent right to receive an amount of the potential proceeds of a legal claim is assignable by a consumer and/or litigation funding company.

(b)

Only attorney’s liens related to the legal claim which is the subject of the litigation funding contract or Medicare or other statutory liens related to the legal claim shall take priority over any lien of the litigation funding company. All other liens shall take priority by normal operation of law.

Source: Section 1007 — Assignability; liens, https://www.­nysenate.­gov/legislation/laws/FIS/1007 (updated Jun. 19, 2026; accessed Sep. 5, 2026).

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Verified:
Sep. 5, 2026

Last modified:
Jun. 19, 2026

§ 1007. Assignability's source at nysenate​.gov

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