{"data":{"id":"us-ky/krs-379.010","jurisdiction":"us-ky","citation":"KRS 379.010","heading":"Voluntary assignments for benefit of creditors -- Preferred claims.","body":"(1) Every voluntary assignment made by a debtor to any person in trust for his creditors\nshall be for the benefit of all his creditors, except as provided in subsections (2) and\n(3) of this section, in proportion to their respective claims after the payment of  the\nexpenses of the trust.\n(2) Any property conveyed by the deed of assignment upon which there is a valid lien\nshall be first applied to the discharge of the lien debt, and if the property is not\nsufficient to satisfy the lien debt, the lien creditor ma y present the unsatisfied\nremainder as a claim against the estate and receive thereon his pro rata share of the\nassets in the same manner as general creditors.\n(3) Debts due by the assignor as guardian, conservator, trustee of an express trust\ncreated by deed or will or as personal representative shall be paid in full before the\ngeneral creditors receive anything.","path":["KRS Chapter 379"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=35361","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:09Z","sha256":"e52001ac72fc6db8f97a96a55fc37e2cfce168e3c7cfc3dc31f1a5464e23acba","source_id":"us-ky","stale":false,"prev":"us-ky/krs-378a.140","next":"us-ky/krs-379.020"},"notice":"GroundRules: Original legal text. Not legal advice."}