§ 16-117-401. Assignee to take possession of property — Inventory — Bond to be given
(a) In all cases in which any person makes an assignment of his or her property for the benefit of his or her creditors, it shall be the duty of the assignee named in the deed of assignment to take immediate possession of the property for the purpose of making an inventory and description of […]
§ 16-117-402. Actions contesting assignment
(a) All proceedings for the purpose of contesting the validity of the assignment shall be instituted within six (6) months from the date of the assignment, by filing complaint in the circuit court of the proper county, setting forth the grounds upon which the assignment is contested. (b) Any creditor or person interested in the […]
§ 16-117-403. Contest of assignment due to fraud
Any assignment for the benefit of creditors may be contested or attacked for fraud by any creditors. Proof of fraud on the part of the assignor shall be sufficient to invalidate the assignment, whether the assignee knew of it or not.
§ 16-117-404. Sale or disposal of property
(a) Upon the petition of any person interested in the execution of the assignment presented to the circuit court, setting forth the necessity for the sale or disposition of the property or any portion thereof not provided for in the deed of assignment, the circuit court shall make such order in relation thereto as may […]
§ 16-117-405. Employment of counsel by assignee
In case any portion of the property involved in the assignment becomes involved in litigation, that fact, when made known to the circuit court by the assignee, shall authorize the circuit court to direct the assignee to employ counsel either to prosecute or defend in the litigation. The circuit court shall stipulate in the order […]
§ 16-117-406. Account of assignee — Allowances to assignee
(a) The assignee shall, in the circuit court of the county in which the assignment is made, after one (1) year from the date of the assignment, and every year thereafter until the proceeds of the property assigned are disposed of for the benefit of creditors, present to the circuit court a fair written statement […]
§ 16-117-208. Receiver to preserve mortgaged property
In an action by a mortgagee for the foreclosure of his or her mortgage, and the sale of the mortgaged property, a receiver may be appointed where it appears that the mortgaged property is in danger of being lost, removed, or materially injured, or that the conditions of the mortgage have not been performed and […]
§ 16-117-203. Actions by receivers — Employment of attorneys
In all cases where it is necessary or proper for a receiver to collect debts by suit, he or she may sue in his or her own name, but all moneys collected by the receiver shall be accounted for and paid into court or be subject to the order of the court. The receiver shall […]
§ 16-117-205. Appointment for corporation, copartnership, or joint-stock company — Powers and duties
(a) Whenever, in any case, a receiver is appointed for a corporation or its trustees, any copartnership, or joint-stock company, and the order or decree of the court is that the lands, tenements, goods, chattels, funds, assets, moneys, credits, choses in action, rights and interests of every kind, name, and nature, either in law or […]
§ 16-117-206. Cases between individuals
The provisions of §§ 16-117-204 and 16-117-205 shall apply to cases between individuals, with like effect, as declared in §§ 16-117-204 and 16-117-205.