31-2-205: Preference given for wages.

In all assignments of property made by any person, association, partnership, chartered company, or corporation to trustees or assignees on account of inability of the assignor at the time of the assignment to pay the assignor's debts or in proceedings in insolvency, the wages of the miners, mechanics, salespersons, servants, clerks, or laborers employed by the assignor for services rendered within 4 months immediately previous to the assignment, not to exceed the actual amount owed for each person, are preferred claims and must be paid by the trustees or assignees before any other creditor of the assignor.