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This entry was published on 2014-09-22
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SECTION 424-A
Compulsory financial disclosure
Family Court Act (FCT) CHAPTER 686, ARTICLE 4, PART 2
§ 424-a. Compulsory financial disclosure. Except as provided herein:
(a) in all support proceedings in family court, there shall be
compulsory disclosure by both parties of their respective financial
states, provided, however, that this requirement shall not apply to a
social services official who is a party in any support proceeding under
this act. No showing of special circumstances shall be required before
such disclosure is ordered and such disclosure may not be waived by
either party or by the court. A sworn statement of net worth shall be
filed with the clerk of the court on a date to be fixed by the court, no
later than ten days after the return date of the petition. As used in
this part, the term "net worth" shall mean the amount by which total
assets including income exceed total liabilities including fixed
financial obligations. It shall include all income and assets of
whatsoever kind and nature and wherever situated and shall include a
list of all assets transferred in any manner during the preceding three
years, or the length of the marriage, whichever is shorter, provided,
however, that transfers in the routine course of business which resulted
in an exchange of assets of substantially equivalent value need not be
specifically disclosed where such assets are otherwise identified in the
statement of net worth. All such sworn statements of net worth shall be
accompanied by a current and representative paycheck stub and the most
recently filed state and federal income tax returns including a copy of
the W-2(s) wage and tax statement(s) submitted with the returns. In
addition, both parties shall provide information relating to any and all
group health plans available to them for the provision of care or other
medical benefits by insurance or otherwise for the benefit of the child
or children for whom support is sought, including all such information
as may be required to be included in a qualified medical child support
order as defined in section six hundred nine of the employee retirement
income security act of 1974 (29 USC 1169) including, but not limited to:
(i) the name and last known mailing address of each party and of each
dependent to be covered by the order; (ii) the identification and a
description of each group health plan available for the benefit or
coverage of the disclosing party and the child or children for whom
support is sought; (iii) a detailed description of the type of coverage
available from each group health plan for the potential benefit of each
such dependent; (iv) the identification of the plan administrator for
each such group health plan and the address of such administrator; (v)
the identification numbers for each such group health plan; and (vi)
such other information as may be required by the court;

(b) when a respondent fails, without good cause, to file a sworn
statement of net worth, a current and representative paycheck stub and
the most recently filed state and federal income tax returns, including
a copy of the W-2(s) wage and tax statement submitted with the returns,
or to provide information relating to all group health plans available
for the provision of care or other medical benefits by insurance or
otherwise for the benefit of the disclosing party and the child or
children for whom support is sought, as provided in subdivision (a) of
this section, the court on its own motion or on application shall grant
the relief demanded in the petition or shall order that, for purposes of
the support proceeding, the respondent shall be precluded from offering
evidence as to respondent's financial ability to pay support;

(c) when a petitioner other than a social services official fails,
without good cause to file a sworn statement of net worth, a current and
representative paycheck stub and the most recently filed state and
federal income tax returns, as provided in subdivision (a) of this
section, the court may on its own motion or upon application of any
party adjourn such proceeding until such time as the petitioner files
with the court such statements and tax returns. The provisions of this
subdivision shall not apply to proceedings establishing temporary
support or proceedings for the enforcement of a support order or support
provision of a separation agreement or stipulation.