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Assignment for the Benefit of Creditors

March 16, 2008
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
Florida	Florida Statutes Chapter 727 - General Assignments
Minnesota	Minnesota Statutes > Title 94 > Chapter 577 - Assignments for Benefit of Creditors
Missouri	Missouri Laws > Title XXVII > Chapter 426 - Assignment for Benefit of Creditors
New York	New York Laws > Debtor & Creditor > Article 2 - General Assignments For The Benefit Of Creditors
North Carolina	North Carolina Laws > Chapter 23 > Article 1 - Assignments for Benefit of Creditors
	North Carolina Laws > Chapter 23 > Article 2 - Petition of Insolvent for Assignment for Creditors
Ohio	Ohio Code > Title 13 > Chapter 1313 - Voluntary Assignments
Texas	Texas Codes > Business and Commerce Code > Title 3 > Chapter 23 - Assignments For The Benefit Of Creditors
Virginia	Virginia Code Chapter 9 - Assignments for Benefit of Creditors

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