N.Y. Insurance Law Section 5216
Assignments of judgments to corporation

(a)

The corporation shall not pay any sum, in compliance with an order made for that purpose, if the claim is founded upon a judgment, except a judgment obtained against the corporation under this article, until the petitioner assigns the judgment to the corporation.

(b)

After assignment the corporation shall be entitled to enforce the judgment for the full amount with interest and costs. Money collected on the judgment in excess of all amounts paid by the corporation shall be paid to the judgment creditor.

Source: Section 5216 — Assignments of judgments to corporation, https://www.­nysenate.­gov/legislation/laws/ISC/5216 (updated Sep. 22, 2014; accessed Oct. 26, 2024).

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Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 5216’s source at nysenate​.gov

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