{"data":{"id":"us-ok/okla.-stat.-tit.-24-24-31","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 24, § 24-31","heading":"Allowable, when - Preference, effect of","body":"An insolvent debtor may, in good faith, execute an assignment of\n\nproperty to one or more assignees, in trust towards the satisfaction\n\nof his creditors, in conformity to the provisions of this chapter;\n\nsubject, however, to the provisions of the law relative to trusts\n\nand to fraudulent transfers, and to the restrictions imposed by law\n\nupon assignments by special partnerships, by corporations or by\n\nother specified classes of persons: Provided, that such assignment\n\nshall not be valid if it be upon or contain any trust or condition\n\nby which any creditor is to receive a preference or priority over\n\nany other creditor; but in such case the property of the insolvent\n\nshall become a trust fund to be administered in equity, in the\n\ndistrict court, and shall inure to the benefit of all the creditors\n\nin proportion to their respective claims or demands.","path":["OK Code","Title 24"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os24.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"3320c7be951bea19889d305e0a68cb6735371ebb48fb1c826278edd10a9a8e6c","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-24-24-3","next":"us-ok/okla.-stat.-tit.-24-24-32"},"notice":"GroundRules: Original legal text. Not legal advice."}