§ 1114. Certain sales, transfers, security interests and judgments void.\n A sale, mortgage, conveyance or other transfer of, or the creation of\na security interest in, any property of a corporation made, without\nprior approval of the court, after service upon the corporation of a\nsummons in an action, or of an order to show cause in a special\nproceeding, under this article in payment of or as security for an\nexisting or prior debt or for any other or for no consideration, or a\njudgment thereafter rendered against the corporation by confession or\nupon the acceptance of any offer, shall be void as against such persons\nand to such extent, if any, as the court shall determine.\n
‹ Prev All New York sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.