Georgia Code, Title 18, Chapter 2, Article 3 - Preferences and Assignments for Benefit of Creditors

• § 18-2-40 - Right of Debtor to Prefer Creditors
  A debtor may prefer one creditor over another; and to that end he may rightfully give a lien by mortgage or other legal means,...
• § 18-2-41 - Right of Nonmunicipal Corporation to Assign for Benefit of Creditors and Prefer Creditors
  Any corporation, not municipal, may make an assignment for the benefit of creditors; but no such corporation shall be allowed in such assignment to...
• § 18-2-42 - Right of Persons and Firms to Make Assignments and Prefer Creditors
  Persons and firms may make assignments and prefer creditors.
• § 18-2-43 - Deeds of Assignment for Benefit of Creditors -- Execution, Filing, and Recording
  In all cases the deed of assignment for the benefit of creditors shall be executed, filed, and recorded as provided for deeds in Code...
• § 18-2-44 - Deeds of Assignment for Benefit of Creditors -- Property to Be Conveyed Generally; Description of Property; Attachment of List of Creditors of Assignor
  (a) 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...
• § 18-2-45 - Deeds of Assignment for Benefit of Creditors -- Conveyances; Statements As to Aggregate Amounts
  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...
• § 18-2-46 - Deeds of Assignment for Benefit of Creditors -- Annexation of Affidavit to Deed; Contents of Affidavit
  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...
• § 18-2-47 - Preparation After Recording of Assignment of List of All Property of Assignor At Time of Assignment; Affidavits of Assignor and Assignee As to Accuracy of List
  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...
• § 18-2-48 - List to Remain on File Ten Days
  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...
• § 18-2-49 - Correcting of Innocent or Unintentional Mistake or Omission in List of Assets or Creditors
  Where an unintentional mistake or omission has been made in the description of the property, in the list of assets, in the method of...
• § 18-2-50 - Notification of Creditors of Filing of Assignment; Notification of Creditors of Institution of Actions Attacking Assignment; Sufficient Notice
  Within 30 days after filing the assignment, the assignee shall notify each creditor that the same has been filed. Within 30 days after the...
• § 18-2-51 - Foreign Assignments to Conform With Laws of State
  No property in this state shall pass under any assignment made by corporations, persons, or firms out of this state unless such foreign assignment...
• § 18-2-52 - Provision and Filing of Bond by Assignee for Benefit of Assignor's Creditors; Amount of Bond
  Upon the request of any three of the creditors of the assignor, the assignee shall make and file a bond with surety, in a...
• § 18-2-53 - Duties of Assignee Generally; Payment of Preferred Debts After Filing
  The assignee shall proceed to carry out the duties imposed upon him by the assignment, but he shall not pay any preferred debt until...
• § 18-2-54 - Powers and Rights of Assignee
  The assignee shall succeed to all rights of the assignor but may attack and set aside any fraudulent conveyances or recover property conveyed by...
• § 18-2-55 - Actions to Set Aside Assignments -- Nature of Actions Generally; Priorities and Payment to Creditors on Judgments Rendered After Filing of Complaint to Set Aside Assignment
  No assignment shall be set aside except in a direct action filed for that purpose; and no creditor shall obtain any priority or preference...
• § 18-2-56 - Actions to Set Aside Assignments -- Parties
  In all actions to set aside assignments, the assignee and assignor shall be indispensable parties; and any preferred or unpreferred creditor may be made...
• § 18-2-57 - Actions to Set Aside Assignments -- Necessity of Showing Fraud, Collusion, or Notice Thereof in Assignee
  When the assignment is attacked as fraudulent or void for any reason, it shall not be necessary to show fraud or collusion or notice...
• § 18-2-58 - Necessity for Reduction of Debt to Judgment Before Action Against Assignor or Assignee
  No creditor shall be required to reduce his debt to judgment before asking equitable relief in any action against the assignor or assignee, or
• § 18-2-59 - Appointment of New Assignees Upon Death or Removal From Jurisdiction of Courts of State of Sole or Surviving Assignee; Authority Thereof
  In all cases of assignments for the benefit of creditors, where the sole or surviving assignee has died or moved beyond the jurisdiction of...

Last modified: October 14, 2016