O.C.G.A.

O.C.G.A. § 18-2-53 (2019)

Duties of assignee generally; payment of preferred debts after filing

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)

Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.

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The assignee shall proceed to carry out the duties imposed upon him by the assignment, but he shall not pay any preferred debt until after 60 days from the filing of the assignment in the clerk of the court’s office in the county in which the assignment was filed.

History

Ga. L. 1894, p. 90, § 11; Civil Code 1895,

§ 2708; Civil Code 1910, § 3241; Code 1933, § 28-312.

Annotations

RESEARCH REFERENCES Am. Jur. 2d. 6 Am. Jur. 2d, Assignments for Benefit of Creditors, § 90 et seq. C.J.S. 21 C.J.S., Creditor and Debtor, §§ 14, 50 et seq.

ALR. Preference in event of debtor’s insolvency in respect of funds designated or set apart by him for payment of specified obligations, 32 A.L.R. 950.