N.Y. Surrogate's Court Procedure Act § 2204: Judicial settlement where recovery has been had in negligence action 1

§ 2204. Judicial settlement where recovery has been had in negligence

action

1. Where a judgment or compromise of a cause of action has been

obtained and the proceeds are ready to be paid over and where the

recovery is not an asset of the decedent's estate but goes by special

provision of law to designated persons or classes of persons, the

fiduciary may at any time file a petition for the judicial settlement of

his account relating to the proceeds and upon the return of process or

upon the waiver of all persons interested, if adult and competent, the

court may take and settle his account and direct payment to the parties

entitled according to their respective rights and interests and upon

filing receipts for the payments the party paying the money and the

fiduciary shall be discharged from all further liability as to such

cause of action and the proceeds.

2. Where such recovery has been had and the amount thereof paid to

the fiduciary, he may in like manner have a judicial settlement of his

account relating to such proceeds at any time and a decree made

discharging him from all further liability concerning it.