2023 New York Laws › NPC - Not-For-Profit Corporation › Article 10 - Non-Judicial Dissolution › 1008 - Jurisdiction of Supreme Court to Supervise Dissolution and Liquidation.

§ 1008. Jurisdiction  of  supreme  court  to  supervise  dissolution and
liquidation.
(a) At any time after the filing of a certificate of dissolution under
this article, the supreme court  in  the  judicial  district  where  the
office of the corporation was located at the date of its dissolution, in
a special proceeding instituted under this section, upon the petition of
the  corporation  or,  in  a  situation  approved by the court, upon the
petition of a creditor, claimant, director, officer, member,  subscriber
for  capital  certificates,  incorporator  or  the attorney general, may
suspend or annul the dissolution or  continue  the  liquidation  of  the
corporation  under  the  supervision  of the court and may make all such
orders as it may deem proper in  all  matters  in  connection  with  the
dissolution  or the winding up of the affairs of the corporation, and in
particular, and without limiting the generality  of  the  foregoing,  in
respect of the following:
(1)  The  determination  of  the  validity of the authorization of the
dissolution of the corporation and of the execution and delivery of  the
certificate of dissolution under this article.
(2)  The  adequacy of the notice given to creditors and claimants and,
if it is determined to have been inadequate,  the  requirement  of  such
further notice as the court may deem proper.
(3)  The determination of the validity and amount of invalidity of any
claims which have been presented to the corporation.
(4) The barring of all creditors and claimants  who  have  not  timely
filed  claims  as provided in any such notice, or whose claims have been
disallowed by  the  court,  as  against  the  corporation,  its  assets,
directors, officers and members.
(5)  The  determination  and  enforcement  of  the  liability  of  any
director, officer, member or subscriber for capital certificates, to the
corporation or for the liabilities of the corporation.
(6) The presentation and filing of intermediate and final accounts  of
the  directors,  the  hearing  thereon,  the  allowance  or disallowance
thereof, and the discharge of the directors, or any of them, from  their
liabilities.
(7)  The  administration  of  any  trust,  or  the  disposition of any
property held in trust by or for the corporation.
(8) The adequacy of a plan of distribution.
(9) The payment, satisfaction or  compromise  of  claims  against  the
corporation,   the  retention  of  assets  for  such  purpose,  and  the
determination of the adequacy of provisions  made  for  payment  of  the
liabilities of the corporation.
(10)  The  disposition or destruction of records, documents and papers
of the corporation.
(11) The appointment and  removal  of  a  receiver  under  article  12
(Receivership)  who  may  be  a  director,  officer  or  member  of  the
corporation.
(12) The issuance of injunctions for one or more of the  purposes  and
as provided in section 1113 (Injunction).
(13)  The  return  of subscription payments to subscribers for capital
certificates, and the making of distributions, in cash  or  in  kind  or
partly in each, to the members.
(14)  The  payment to the state comptroller, as abandoned property, of
assets under paragraph (d) of section 1002-a (Carrying out the  plan  of
dissolution and distribution of assets).
(15) Where assets were received and held by the corporation either for
a  charitable  purpose  or  legally required to be used for a particular
purpose, the distribution of such assets to  one  or  more  domestic  or
foreign  corporations  or  other  organizations  engaged  in  activities

substantially similar to those of the dissolved corporation,  on  notice
to  the  attorney general and to such other persons, and in such manner,
as the court may deem proper.
(b)  No order annulling a dissolution shall be made under this section
if the name of the corporation whose dissolution is to be annulled is no
longer available for use by such corporation,  unless  such  corporation
submits  with  its  petition  for  the  annulment  of  the dissolution a
certificate of reservation of another available name.
(c) Orders under this section may be entered ex parte, except that  if
such  special  proceeding  was  not  instituted  upon  petition  of  the
corporation, notice shall be given to the corporation in such manner  as
the court may direct. Notice shall be given to other persons interested,
and in such manner, as the court may deem proper, of any hearings and of
the  entry of any orders on such matters as the court shall deem proper.
All orders made by the court under this section shall  be  binding  upon
the attorney-general, the corporation, its directors, officers, members,
subscribers  for  capital  certificates,  incorporators,  creditors  and
claimants.