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Home » US Law » 2022 Vermont Statutes » Title 9 - Commerce and Trade » Chapter 53 - Assignment for Benefit of Creditors

§ 2151. Nature and form of assignment

§ 2151. Nature and form of assignment An assignment of property, including choses in action, by a debtor for the benefit of creditors shall be in writing and signed by the debtor. If real estate is assigned, it shall be by deed, executed and recorded in the same manner as a conveyance of real estate. […]

§ 2152. Schedule; list of creditors

§ 2152. Schedule; list of creditors Assignments shall be specific and accompanied by a full inventory or schedule of the property assigned, including choses in action, and with a list of the creditors to be benefited by the assignment and the sums due each one as near as may be.

§ 2153. Copy of assignment to be filed

§ 2153. Copy of assignment to be filed The assignor and assignee shall file in the clerk’s office in the county where the assignor resides, and also where the property assigned is situated at the time of making such assignment, a copy of the assignment and inventory, including choses in action, and of the list […]

§ 2154. Assignee’s bond

§ 2154. Assignee’s bond The assignee shall execute to the Superior Court for the unit in which the assignor resides a bond with sureties to the satisfaction of such court and conditioned for the faithful performance of such trust. The assignee shall execute such bond at the time of making such assignment, and the same […]

§ 2155. Failure to file copy of assignment or to execute bond

§ 2155. Failure to file copy of assignment or to execute bond Unless such copies are filed as directed in section 2153 of this title and such bond is executed as directed in section 2154 of this title, the property so assigned shall be liable to trustee process and to attachment and execution at the […]

§ 2156. Assignee’s duties

§ 2156. Assignee’s duties The assignee shall proceed with reasonable dispatch in the discharge of his or her trust to the completion of the same. When completed, he or she shall file with the clerk of such Superior Court a copy of the settlement of his or her trust account showing in detail how he […]

§ 2157. Application to Superior judge for settlement of account by assignee

§ 2157. Application to Superior judge for settlement of account by assignee If, in the opinion of a creditor of the assignor named in the assignment, the assignee neglects to settle his or her trust and file a copy of his or her account with the county clerk for an unreasonable length of time, such […]

§ 2158. Powers of Superior judge

§ 2158. Powers of Superior judge The Superior judge may hear such application upon notice being given to the assignee, make necessary orders in the premises, and allow or refuse costs upon such application and hearing as he or she thinks equitable. He or she shall enforce the orders made by him or her according […]