(a) The making of a general assignment for the benefit of creditors terminates a lien of a temporary protective order or of attachment if the lien was created within 90 days prior to the making of the general assignment.

(b) The filing of a petition commencing a voluntary or involuntary case under Title 11 of the United States Code (Bankruptcy) terminates a lien of a temporary protective order or of attachment if the lien was created within 90 days prior to the filing of the petition.

Terms Used In California Code of Civil Procedure 493.030

  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • general assignment for the benefit of creditors: means an assignment which satisfies all of the following requirements:

    California Code of Civil Procedure 493.010

  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Property: includes both personal and real property. See California Code of Civil Procedure 17

(c) Subdivisions (a) and (b) do not apply unless all liens of attachment on the defendant‘s property in other states that were created within 90 days prior to the making of a general assignment for the benefit of creditors or the filing of a petition commencing a case under Title 11 of the United States Code (Bankruptcy) have terminated.

(Amended by Stats. 1979, Ch. 177.)

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