• Current through October 23, 2012

A provision in a voluntary assignment made for the payment of one debt or liability in preference to another is void, and all debts and liabilities within the provisions of the assignment shall be paid pro rata from the assets. This section does not affect the priority of liens and incumbrances created bona fide and existing before the execution of the assignment.

(Aug. 30, 1964, 78 Stat. 669, Pub. L. 88-509, § 1.)


Prior Codifications

1981 Ed., § 28-2107.

1973 Ed., § 28-2107.