NY State Law on Gambling
According to the New York Constitution, Section 225.05, promoting
gambling in the second degree is defined as "A person is guilty of
promoting gambling in the second degree when he knowingly advances or
profits from unlawful gambling activity." Fines imposed by virtue of the
authority granted by this clause are not dischargeable in bankruptcy.
In practice - NY State Law on gambling and debtors in
bankruptcy
Legitimate debts are generally dischargeable in bankruptcy cases
filed under both Chapter 7 and Chapter 13. The presumption of
dischargeability favors debts, who are required to list all debts with
schedules filed with the court. Debts are typically identified by the
person or company owed, address, account number, and the amount of debt
in the case of a general unsecured liability. A complete description of
the nature of the debt is not required unless question by a bankruptcy
trustee, creditor, or the court upon it's own motion.
The US Bankruptcy Code generously incorporates New York
State statutory laws into the administration of Chapter 7 liquidation, Chapter 13
plans,
and Chapter 11 reorganization cases. The application of State Law in
Federal Court is essential for resolving legal issues pertaining to the
ownership of property, debtor and creditor rights, employment law and
employee rights, enforcement of judgments, determinations of liability,
family obligations, and many more individual rights when dealing with
large corporations. Each year, as the State Legislature in Albany enacts
new statutes, or amends existing statutes, the ripple effect impacts all
New York citizens' rights in Federal Bankruptcy Court.
Changes,
amendments and clarifications contained in New York State statutory law often cause a
noticeable effect
upon the administration of bankruptcy cases and the Bankruptcy Court's determination of asset
classification (for forfeiture). Similarly, the dischargeability
of consumer debts is often affected based upon authorized lending requirements. For instance:
- New York State probate law.
- NY labor laws favored by New York real estate ligitation lawyers
and New York corporate litigation lawyers.
- New York State tenants rights favored by a list of lawyers in New York
who specialize in NY divorce laws.
- New York State municipal law and New York State motor vehicle law.
Back to New York State
Statutory Law information index.
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