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

10 Del. C. § 7322A: Ancillary assignee.

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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) Subject to other law of this State governing a person from another state serving as a fiduciary in this State, the Court of Chancery may appoint a person serving as an assignee in an assignment in another state, or the person’s nominee, as an ancillary assignee relating to assigned assets located in this State or subject to the jurisdiction of the Court of Chancery in this State, if:

(1) The person or nominee would be eligible to serve as an assignee under § 7304A of this title; and

(2) The appointment furthers the person’s possession, custody, control, or disposition of an assigned asset under the assignment in the other state.

(b) The Court of Chancery may issue an order that implements an order entered in another state appointing or directing an assignee or otherwise concerning an assignment in the other state.

(c) Unless the Court of Chancery orders otherwise, an ancillary assignee appointed under subsection (a) of this section has the rights, powers, and duties of an assignee appointed under this chapter.

(d) A person in possession, custody, or control of an assigned asset in this State, other than a creditor holding a lien or a right of setoff or recoupment relating to the asset, shall, on notification in a record by an ancillary assignee appointed under subsection (a) of this section, turn over the asset to the ancillary assignee.

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

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