N.Y. Not-for-Profit Corporation Law § 1212: Disposition of moneys retained; surplus; unclaimed distributions

§ 1212. Disposition of moneys retained; surplus; unclaimed

distributions.

(a) When any action pending at the time of final distribution shall be

terminated, the receiver shall apply the moneys retained by the receiver

to the payment of the amount recovered, and the receiver's necessary

charges and expenses incurred therein.

(b) After the final distribution to creditors and after deducting the

receiver's charges and expenses, the receiver shall distribute any

surplus in the manner prescribed in section 1002-a of this chapter or,

if dissolution of the corporation is not involved, in such manner as the

court shall order.