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Delaware · Through 2026-08-10 (85 Del. Laws, c. 421, 424) · Newer source version available

10 Del. C. § 7303A: Scope.

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Where this section sits in the code
  1. Title 10. Courts and Judicial Procedure
  2. Special Proceedings
  3. CHAPTER 73A. Uniform Assignment for Benefit of Creditors Act

(a) This chapter applies to an assignment made by an assignor that is:

(1) An organization whose principal place of business is in this State;

(2) An organization whose internal affairs are governed by other law of this State;

(3) An individual whose principal residence is in this State;

(4) An organization wholly owned, directly or indirectly, by an assignor that satisfies paragraph (a)(1), (a)(2), or (a)(3) of this section; or

(5) An organization that:

a. Is partly owned, directly or indirectly, and controlled by an assignor that satisfies paragraph (a)(1), (a)(2), or (a)(3) of this section;

b. Has no place of business or employees; and

c. Relies on the services the organization receives from an assignor that satisfies paragraph (a)(1), (a)(2), or (a)(3) of this section.

(b) Notwithstanding another provision of this chapter to the contrary, a bank, as “bank” is defined in § 101 of Title 5, or an insurer, as “insurer” is defined in § 5901 of Title 18, may not be an assignor under this chapter.

Collected 2026-09-05T23:02:13Z. Source file · JSON

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