N.Y. Personal Property Law § 47-d: Cancellation of assignment

§ 47-d. Cancellation of assignment. Upon the payment or satisfaction

of the indebtedness, and upon written demand delivered personally or by

registered mail by the assignor, the assignee shall execute and

acknowledge or prove, and deliver to the assignor a certificate setting

forth that the indebtedness has been paid or otherwise satisfied and

discharged. Such certificate must recite the date of the assignment, the

names of the parties thereto, the amount of the original indebtedness,

the filing number, the date of filing thereof, including every

assignment of said assignment, if any, specifying in the recital of each

assignment the date thereof, the names of the parties thereto, the

filing date and the serial number thereof.

If for ten days after such demand the assignee fails to mail or

deliver such a statement of satisfaction, he shall forfeit to the

assignor five dollars, and be liable for all damages suffered. Upon

presentation of such statement of satisfaction the filing officer shall

file the same and note the cancellation of the assignment and the date

thereof on the margin of the page where the assignment has been entered.