1. The Laws of New York
  2. Consolidated Laws
  3. Business Corporation
  4. Article 12: Receivership


Section 1208 Penalty for concealing property from receiver

Business Corporation (BSC)

  Any persons having possession of property belonging to the corporation, who shall wrongfully withhold such property from the receiver after the day specified in the notice given under section 1207 (Duties of receiver upon appointment), shall forfeit to the receiver double the value of such property, and the same may be recovered in an action by the receiver.