N.Y. Debtor & Creditor Law § 194-a: Provision for contingent or unliquidated liabilities

§ 194-a. Provision for contingent or unliquidated liabilities. If, at

the time any dividend is made, there shall be a contingent or

unliquidated claim against the debtor or an outstanding bond,

recognizance or undertaking upon which the debtor shall have been

principal, surety or indemnitor, the trustees must retain in their hands

for such period or periods as the court having jurisdiction of the

matter may by order direct a sum of money sufficient to pay a due or

equal proportion of said dividend upon such contingent or unliquidated

claim or liability if and when the same shall be established and

liquidated.