Whenever a deed of assignment for the benefit of creditors is executed, the deed shall be recorded. If no notice of the sale has previously been given, the trustee named in such deed, or the one substituted in the manner prescribed in this article, before selling under the deed of assignment, shall, at least 10 […]
A majority of the unsecured creditors in number and amount of the assignor may agree in writing upon a trustee different from the one named in the deed of assignment, and upon petition to the court that would have jurisdiction if an action were brought against the assignor, such agreed trustee may be substituted in […]
Any creditor of the assignor who questions the validity of any other creditor’s claim, or the trustee if he questions the validity of any claim, may file, within 30 days after the recordation of the deed, a petition against the creditor whose claim is questioned in the court that would have jurisdiction if the action […]
Any deed of assignment may contain a provision to the effect that those creditors who accept such assignment do so in full satisfaction of their respective claims and shall be forever barred from further recovery of any balance. 1924, p. 658; Michie Code 1942, § 5278d; Code 1950, § 55-159; 2019, c. 712.
Every trustee referred to in this article shall receive reasonable compensation for services. 1924, p. 658; Michie Code 1942, § 5278d; Code 1950, § 55-160; 2019, c. 712.
