A debtor may prefer one creditor over another; and to that end he may rightfully give a lien by mortgage or other legal means, sell in payment of the debt, or transfer choses in action as collateral security, where the surplus in such cases is not reserved for the debtor’s own benefit. History. Orig. Code […]
Any corporation, not municipal, may make an assignment for the benefit of creditors; but no such corporation shall be allowed in such assignment to prefer any creditor or class of creditors, except creditors who have debts entitled to priority by law. History. Ga. L. 1894, p. 90, § 1; Civil Code 1895, § 2698; Civil […]
Persons and firms may make assignments and prefer creditors. History. Ga. L. 1894, p. 90, § 2; Civil Code 1895, § 2699; Civil Code 1910, § 3232; Code 1933, § 28-303.
In all cases the deed of assignment for the benefit of creditors shall be executed, filed, and recorded as provided for deeds in Code Section 44-2-1. History. Ga. L. 1894, p. 90, § 3; Civil Code 1895, § 2700; Civil Code 1910, § 3233; Code 1933, § 28-304.
All assignments referred to in Code Section 18-2-42 shall convey all of the property of every sort which is claimed or owned by the assignor at the time of the execution thereof. Such assignments shall: Identify any lands owned or any interest in lands; Identify goods, wares, and merchandise by general words of description, indicating […]
Assignments referred to in Code Section 18-2-42 shall convey all books, books of account, choses in action, notes, drafts, bills, judgments, liens, and mortgages held or owned, indicating, as near as may be, the aggregate amount thereof, with a statement as to the total amounts which are considered good, doubtful, or bad. History. Ga. L. […]
At the time of signing the deed of assignment provided for in Code Section 18-2-43, the person or firm making an assignment or the officer acting for the corporation making an assignment shall make an affidavit which shall be annexed to such assignment, and which affidavit shall state that: The assignment conveys all property held, […]
Within 15 days after the recording of the assignment provided for in Code Section 18-2-43, the assignor shall, in connection with the assignee, prepare a full and complete list of all property of every kind, character, and description held, claimed, owned, or possessed by the assignor at the date of making such assignment, to which […]
The list referred to in Code Section 18-2-47 shall remain on file for ten days in the clerk of the court’s office in the county in which the assignment was filed, subject to examination by any interested person. History. Ga. L. 1894, p. 90, § 8; Civil Code 1895, § 2705; Civil Code 1910, § […]
Where an unintentional mistake or omission has been made in the description of the property, in the list of assets, in the method of preparing the list of assets, or in the list of creditors, the same may be amended upon proof thereof to the court. History. Ga. L. 1894, p. 90, § 18; Civil […]
Within 30 days after filing the assignment, the assignee shall notify each creditor that the same has been filed. Within 30 days after the date the assignee is served with the complaint attacking the assignment, he shall give notice of the filing of the complaint to each creditor named. Depositing a letter in the post […]
No property in this state shall pass under any assignment made by corporations, persons, or firms out of this state unless such foreign assignment shall conform to the law of assignments in this state. History. Ga. L. 1894, p. 90, § 9; Civil Code 1895, § 2706; Civil Code 1910, § 3239; Code 1933, § […]
Upon the request of any three of the creditors of the assignor, the assignee shall make and file a bond with surety, in a sum to be fixed by the judge of the superior court, conditioned for the faithful performance of his trust, which bond shall be made payable to the judge of the probate […]
The assignee shall proceed to carry out the duties imposed upon him by the assignment, but he shall not pay any preferred debt until after 60 days from the filing of the assignment in the clerk of the court’s office in the county in which the assignment was filed. History. Ga. L. 1894, p. 90, […]
The assignee shall succeed to all rights of the assignor but may attack and set aside any fraudulent conveyances or recover property conveyed by the assignor for the purpose of hindering, delaying, or defrauding creditors. History. Ga. L. 1894, p. 90, § 12; Civil Code 1895, § 2709; Civil Code 1910, § 3242; Code 1933, […]
No assignment shall be set aside except in a direct action filed for that purpose; and no creditor shall obtain any priority or preference of payment out of the assets assigned on any judgment rendered after the filing of a complaint to set aside the assignment if the assignment is set aside and decreed to […]
In all actions to set aside assignments, the assignee and assignor shall be indispensable parties; and any preferred or unpreferred creditor may be made a party plaintiff or defendant at any time in term or vacation. History. Ga. L. 1894, p. 90, § 14; Civil Code 1895, § 2711; Civil Code 1910, § 3244; Code […]
When the assignment is attacked as fraudulent or void for any reason, it shall not be necessary to show fraud or collusion or notice thereof in the assignee in order to render the assignment void. History. Ga. L. 1894, p. 90, § 15; Civil Code 1895, § 2712; Civil Code 1910, § 3245; Code 1933, […]
No creditor shall be required to reduce his debt to judgment before asking equitable relief in any action against the assignor or assignee, or both. History. Ga. L. 1894, p. 90, § 16; Civil Code 1895, § 2713; Civil Code 1910, § 3246; Code 1933, § 28-317.
In all cases of assignments for the benefit of creditors, where the sole or surviving assignee has died or moved beyond the jurisdiction of the courts of the state, the superior courts of this state shall have full power and authority, upon the petition of two or more of the parties interested in such assignment […]
