An order, directing the execution of an assignment, must be made by the court, where it appears, by the verdict of the jury, or, if a jury has not been demanded, or the jurors have been discharged by reason of their inability to agree, where it satisfactorily appears to the court, as follows: 1. That the petitioner is unable to pay his debts. 2. That the schedule annexed to his petition is true. 3. That he has not been guilty of any fraud or concealment, in violation of the provisions of this article. 4. That he has, in all things, conformed to the matters required of him by this article. The provisions of sections seventy-six, seventy-seven, and seventy-eight of this chapter apply to the order prescribed in this section, and to the assignment made in pursuance thereof, except that the trustee or trustees must be nominated, as well as appointed, by the court.
New York Legal Code