44-1032. Assignment for the benefit of consenting creditors; effect; execution of release by creditors
Any debtor desiring to do so may make an assignment for the benefit of such of his creditors only as will consent to accept their proportional share of his estate, and discharge him from their respective claims. In such case the benefits of the assignment shall be limited and restricted to the creditors consenting thereto. The debtor shall thereupon be discharged from all further liability to the consenting creditors on account of their respective claims, and when paid they shall execute and deliver to the assignee, for the debtor, a release therefrom.
Section: Previous 44-1005 44-1006 44-1007 44-1008 44-1009 44-1010 44-1031 44-1032 44-1033 44-1034 44-1035 44-1036 44-1037 44-1038 44-1039 NextLast modified: October 13, 2016