DecisionDepot
California legal research

Texas Business & Commerce Code

§ 23.02 — NATURE AND EFFECT OF ASSIGNMENT

BC § 23.02Title 3. INSOLVENCY, FRAUDULENT TRANSFERS, AND FRAUD · Ch. 23. ASSIGNMENTS FOR THE BENEFIT OF CREDITORS · Art. A. GENERAL PROVISIONS

Statute text

View on source
(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.

Legislative history

Acts 1967, 60th Leg., p. 2343, ch. 785, Sec. 1.

Source: Texas Business & Commerce Code § 23.02 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.