ยง 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.
Structure New York Laws
Article 3-A - Assignment of Earnings
46-B - Assignments of Future Earnings Collectible Only as Prescribed.
46-D - Guarantee of Certain Purchases Secured by Assignment of Earnings.
46-E - Personal Execution of Assignment by Assignor; Delivery of Copies of Papers.
46-F - Limit on Interest and Other Charges.
47 - Public Filing of Assignment Before Filing With Employer.
47-B - Filing, Entering and Indexing.
47-D - Cancellation of Assignment.
47-E - Vacating of an Assignment, by Order of a Court.
48 - Notice to Be Mailed to Assignor Prior to Filing With Employer.
48-B - Amount of Exempt Earnings.
48-C - Assignment of Future Earnings by Person Unemployed; Effect of Loss of Employment.
48-D - Payroll Deductions Not Included.
49 - Certain Provisions Not Applicable to Banks, Trust Companies or Credit Unions.