Texas Business And Commerce Code Title 3, Chapter 23 - Assignments For The Benefit Of Creditors
SUBCHAPTER A GENERAL PROVISIONS
- Texas Section 23.01 - Definitions
In this chapter, unless the context requires a different definition, (1) "assigned estate" means all the real and personal estate of an assigning debtor passing...
SUBCHAPTER B THE ASSIGNMENT
- Texas Section 23.02 - Nature And Effect Of Assignment
(a) A debtor may assign his real and personal estate under this chapter to an assignee for the benefit of the debtor's creditors. (b) An...
- Texas Section 23.08 - Form And Content Of Assignment
(a) For an assignment to be valid, (1) the assigning debtor must make the assignment in writing; and (2) it must be proved or acknowledged...
- Texas Section 23.09 - Fraud Does Not Defeat Assignment
(a) An assignment is not affected and a consenting creditor is not deprived of his proportionate share of the assigned estate by the fraudulent act...
SUBCHAPTER C DUTIES AND RIGHTS OF ASSIGNEE
- Texas Section 23.10 - Assignment Discharges Debtor
If an assigning debtor makes an assignment, he is discharged from liability on the claim of a consenting creditor unless the consenting creditor does not...
- Texas Section 23.16 - Assignee's Qualifications, Duty To Record Assignment, And Bond
(a) An assignee shall be a resident of this state and a resident of the county in which the assigning debtor resides, or in which...
- Texas Section 23.17 - Notice Of Assignee's Appointment
(a) Within 30 days after an assignment is executed, the assignee shall publish notice of his appointment as assignee in a newspaper published in the...
- Texas Section 23.18 - Replacement Of Assignee
(a) A county or district court of the county in which the assignee resides shall remove or replace the assignee on application of the assigning...
- Texas Section 23.19 - Assignee's Duty To Distribute Assigned Estate
Each time an assignee has enough money to pay 10 percent of the assigning debtor's debts, he shall distribute the money among the creditors entitled...
- Texas Section 23.20 - Discount Of Claim Not Due And Allowance Of Secured Claim
(a) The assignee may allow a claim which is not due at its present value by discounting it at the legal rate. (b) If a...
- Texas Section 23.21 - Assignee's Entitlement To Compensation
An assignee is entitled to reasonable compensation for his services and reimbursement for his necessary expenses, including an attorney's fee, all of which shall be...
- Texas Section 23.22 - Examination Of Debtor Or Other Person
(a) The court in which a proceeding involving an assigned estate has been filed may, after reasonable notice to each person concerned, compel any person...
- Texas Section 23.23 - Assignee's Final Report And Discharge
(a) An assignee wishing to be discharged from his appointment shall prepare and file for record with the county clerk of the county in which...
SUBCHAPTER D DUTIES AND RIGHTS OF CREDITORS
- Texas Section 23.24 - Time Limit On Bringing Action Against Assignee
An action against an assignee based on his conduct in carrying out the assignment, as shown in his report filed under Section 23.23(a) of this...
- Texas Section 23.30 - Creditor's Consent To Assignment
(a) A creditor must inform the assignee in writing of his consent to the assignment within four months after the assignee gives the notice required...
- Texas Section 23.31 - Creditor's Proof And Assignee's Allowance Of Claim
(a) Within six months after the first publication of notice of appointment required by Section 23.17 of this code, a consenting creditor must file with...
- Texas Section 23.32 - Creditor's Suit On Disputed Claim
(a) The assignee shall give any creditor a copy of any statement of claim filed under Section 23.31(a) of this code if the creditor requests...
- Texas Section 23.33 - Nonconsenting Creditor's Right To Surplus
If a creditor does not consent to an assignment, he may garnishee the assignee for the excess of the assigned estate remaining in the assignee's...
Last modified: September 28, 2016