GroundRules
Tex. Business & Commerce Code § 23.02: NATURE AND EFFECT OF ASSIGNMENT.
Where this section sits in the code
- BUSINESS AND COMMERCE CODE
- TITLE 3. INSOLVENCY, FRAUDULENT TRANSFERS, AND FRAUD
- CHAPTER 23. ASSIGNMENTS FOR THE BENEFIT OF CREDITORS
- SUBCHAPTER A. GENERAL PROVISIONS
(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 assigning debtor shall provide in the assignment for distribution of all his real and personal estate to each consenting creditor in proportion to each consenting creditor's claim.
(c) Regardless of an expression to the contrary, an assignment passes all an assigning debtor's real and personal estate to each consenting creditor in proportion to each consenting creditor's claim.
Acts 1967, 60th Leg., p. 2343, ch. 785, Sec. 1.
Collected 2026-08-27T01:46:56Z. Source file · JSON