6-1-1. Insolvent debtor may assign. An insolvent debtor may, in good faith, execute an assignment of property to one or more assignees in trust for the benefit of creditors in conformity with the provisions of this title. No Change Since 1953
6-1-10. Dividends to creditors. If no exception is made and filed to the claim of any creditor, or if the same has been adjudicated, the court shall order the assignee to make from time to time fair and equal dividends among the creditors of the assets in his hands in proportion to their claims and […]
6-1-11. Court to supervise administration. The assignee shall at all times be subject to the order and supervision of the court or judge and from time to time may be compelled, by citation or attachment, to file reports of his proceedings and of the situation and condition of the trust, and to proceed in the […]
6-1-12. Time for disposing of property. The assignee shall dispose of all personal property and divide the proceeds of the same among the creditors as they may be entitled thereto within six months from the date of the assignment, unless further time is given for good cause by the court, and shall dispose of real […]
6-1-13. Failure to file inventory — Examination of debtor. No assignment shall be declared fraudulent or void for want of any list or inventory as provided in this title. The court or judge may, upon application of the assignee or any creditor, compel the appearance in person of the debtor before such court or judge, […]
6-1-14. Subsequent inventory — Additional bond. The assignee shall from time to time file with the clerk of the court an inventory and valuation of any additional property which may come into his hands under the assignment after the filing of the first inventory, and the clerk or the judge of the court may thereupon […]
6-1-15. Debts not matured — Delay in filing claims. Any creditor may claim debts to become due as well as debts due, but on debts not due a reasonable rebate shall be made when the same are not drawing interest. Creditors who do not file their claims within three months from the publication of notice […]
6-1-16. Sales — Confirmation. The assignee may dispose of and sell all the estate assigned, real and personal, which the debtor had at the time of the assignment, may sue for and recover in his own name everything belonging or appertaining to said estate, and generally do whatever the debtor might have done in the […]
6-1-17. Removal of assignee. Upon a written application of a majority of the creditors in amount the court shall remove the assignee and appoint in his stead a person approved by the creditors in the same number and amount, and the person so removed shall immediately turn over to the clerk of the court, or […]
6-1-18. Death or neglect of assignee. If an assignee dies before the closing of his trust, or shall fail or neglect for the period of 20 days after making of any assignment to file an inventory and valuation and give bond as required in this title, the district court or any judge thereof of the […]
6-1-19. Compensation of assignee. In the absence of any provision in the assignment to the contrary an assignee for the benefit of creditors is entitled to the same commissions as are allowed by law to executors and administrators as compensation in full for all services. No Change Since 1953
6-1-2. When assignment void. An assignment for the benefit of creditors is void against any creditor of the assignor not assenting thereto in the following cases: (1) if it gives a preference dependent upon any condition or contingency, or with any power of revocation reserved; (2) if it tends to coerce any creditor to release […]
6-1-20. Right to prefer creditor. Nothing in this title contained shall affect the power of a person, although insolvent, residing either within or without this state, to transfer property in this state in good faith to a particular creditor for the purpose of paying or securing the whole or a part of a debt owing […]
6-1-3. Assignment to be written — Contents — Recording. Every such assignment shall be by an instrument in writing, setting forth the name of the assignor, his residence and business, the name of the assignee and his residence and business, and in a general way describing the property assigned with its location, and stating the […]
6-1-4. Inventory — Bond. The assignee shall forthwith file with the clerk of the district court of the county where the property assigned is located a true and full inventory and valuation of said estate, under oath, so far as the same has come to his knowledge, and shall then enter into bonds to the […]
6-1-5. Notice of assignment. The assignee shall forthwith give notice of such assignment: (1) (a) by publication once a week for six weeks: (i) in a newspaper published in the county; or (ii) if there is not a newspaper as described in Subsection (1)(a)(i), in a newspaper of general circulation in the county; and (b) […]
6-1-6. Claims to be filed. The claims of all creditors, clearly and distinctly stated and sworn to by the claimant, or by some person acquainted with the facts, shall be filed with the assignee within three months of the date of the first publication provided for in the preceding section, unless the court extends such […]
6-1-7. Assignee to make report. At the expiration of three months from the time of first publishing notice the assignee shall report and file with the clerk of the court a true and full list, under oath, of all such creditors of the assignor as shall have claimed to be such, with a statement of […]
6-1-8. Objections to claims — Hearing. Any person interested may appear within one month after such report is filed and contest the claim or demand of any creditor by written exceptions thereto filed with the clerk, who shall forthwith cause notice thereof to be given to the creditor, which shall be served as in case […]
6-1-9. Taxes to be paid. In all assignments of property for the benefit of creditors, assessments and taxes levied thereon either under the laws of the state or ordinances of municipal corporations shall be entitled to priority, and paid in full by the assignee, and claims therefor need not be filed with him. Amended by […]
