Assignments for the Benefit of Creditors

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Assignment for the Benefit of Creditors

Last Updated March 3, 2009
In lieu of filing for Chapter 7 liquidation bankruptcy, a business may wish to settle its debts by entering into an assignment for the benefit of creditors. An assignment is a streamlined liquidation procedure that allows a business to pay off its creditors while avoiding the costs, time, and stigma associated with bankruptcy.
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Assignments for the Benefit of Creditors - Selected State Laws

Arizona	Arizona Laws > Title 44 > Chapter 8 > Article 3 - Assignments for the Benefit of Creditors
California	California Code of Civil Procedure > Part 3 > Title 11.7 - Recovery Of Preferences And Exempt Property In An Assignment For The Benefit Of Creditors
Florida	Florida Statutes > Chapter 727 - General Assignments
Idaho	Idaho Code Title 68 > Chapter 2 - Assignments For Benefit Of Creditors
Iowa	Iowa Code Chapter 681 - Assignment for benefit of creditors
Minnesota	Minnesota Statutes Chapter 577 - Assignments for Benefit of Creditors
Missouri	Missouri Laws > Title XXVII > Chapter 426 - Assignment for Benefit of Creditors
New Hampshire	New Hampshire Revised Statutes > Chapter 569 - Assignments For The Benefit Of Creditors
New Mexico	New Mexico Statutes Chapter 56 > Article 9 - Transfers to Prefer Creditors - Voluntary Assignments
New York	New York Laws - Debtor & Creditor > Article 2 - General Assignments for the Benefit of Creditors
New York	New York Laws > Debtor & Creditor > Article 2 - General Assignments For The Benefit Of Creditors
North Carolina	North Carolina General Statutes Chapter 23 > Article 1 - Assignments for Benefit of Creditors
	North Carolina General Statutes Chapter 23 > Article 2 - Petition of Insolvent for Assignment for Creditors
North Dakota	North Dakota Code > Chapter 32-26 - Administration of Assignment for Benefit of Creditors
Ohio	Ohio Code > Title 13 > Chapter 1313 - Voluntary Assignments
Rhode Island	Rhode Island General Laws > Chapter 10-4. Assignment for Benefit of Creditors
South Carolina	South Carolina Code > Title 27 > Chapter 25 - Assignments For The Benefit Of Creditors
South Dakota	South Dakota Laws > Title 54 > Chapter 9 - Assignment For Benefit Of Creditors
Tennessee	Tennessee Code > Title 47 > Chapter 13 - Assignments for Benefit of Creditors
Texas	Texas Business And Commerce Code > Title 3 > Chapter 23 - Assignments For The Benefit Of Creditors
Utah	Utah Code > Title 6 - Assignment for Benefit of Creditors
Vermont	Vermont Statutes > Title 9 > Chapter 53 - Assignment for Benefit of Creditors
Virginia	Virginia Code Title 55 > Chapter 9 - Assignments for Benefit of Creditors
West Virginia	West Virginia Code > Chapter 38 > Article 13 - Assignment By Insolvent For The Benefit For All Creditors

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