Texas Business & Commerce Code

§ 23.10 — ASSIGNMENT DISCHARGES DEBTOR

BC § 23.10Title 3. INSOLVENCY, FRAUDULENT TRANSFERS, AND FRAUD · Ch. 23. ASSIGNMENTS FOR THE BENEFIT OF CREDITORS · Art. B. THE ASSIGNMENT

Statute text

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If an assigning debtor makes an assignment, he is discharged from liability on the claim of a consenting creditor unless the consenting creditor does not receive at least one-third of the amount allowed on his claim against the assigned estate.

Legislative history

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