Texas Business & Commerce Code

§ 23.19 — ASSIGNEE'S DUTY TO DISTRIBUTE ASSIGNED ESTATE

BC § 23.19Title 3. INSOLVENCY, FRAUDULENT TRANSFERS, AND FRAUD · Ch. 23. ASSIGNMENTS FOR THE BENEFIT OF CREDITORS · Art. C. DUTIES AND RIGHTS OF ASSIGNEE

Statute text

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Each time an assignee has enough money to pay 10 percent of the assigning debtor's debts, he shall distribute the money among the creditors entitled to receive it in proportion to their claims allowed under Section 23.31(b) of this code.

Legislative history

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