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2018 Georgia Code 18-2-55 | Car Wreck Lawyer

Link to State of Georgia Official Statute 2018 Georgia Code Annotated (sourced from legal.resource.org)
O.C.G.A. 18-2-55 Case Law from Google Scholar Amendments to OCGA 18-2-55

TITLE 18 DEBTOR AND CREDITOR

Section 2. Debtor and Creditor Relations, 18-2-1 through 18-2-85.

ARTICLE 3 PREFERENCES AND ASSIGNMENTS FOR BENEFIT OF CREDITORS

18-2-55. Nature of actions to set aside assignments generally; priorities and payment to creditors on judgments rendered after filing of complaint to set aside assignment.

No assignment shall be set aside except in a direct action filed for that purpose; and no creditor shall obtain any priority or preference of payment out of the assets assigned on any judgment rendered after the filing of a complaint to set aside the assignment if the assignment is set aside and decreed to be void.

(Ga. L. 1894, p. 90, § 13; Civil Code 1895, § 2710; Civil Code 1910, § 3243; Code 1933, § 28-314.)

JUDICIAL DECISIONS

Editor's notes.

- In light of the similarity of the statutory provisions, decisions under former Ga. L. 1884-85, p. 100, are included in the annotations for this Code section.

Complainants attacking assignment as fraudulent could proceed without first reducing complainants' claims to judgment. Burns v. Beck, 83 Ga. 471, 10 S.E. 121 (1889) (decided under former Ga. L. 1884-85, p. 100, No. 429).

Cited in Coleman & Burden Co. v. Rice, 115 Ga. 510, 42 S.E. 5 (1902); Burkhalter v. Glennville Bank, 184 Ga. 147, 190 S.E. 644 (1937).

RESEARCH REFERENCES

Am. Jur. 2d.

- 6 Am. Jur. 2d, Assignments for Benefit of Creditors, § 116.

C.J.S.

- 21 C.J.S., Creditor and Debtor, § 78 et seq. 37 C.J.S., Fraudulent Conveyances, § 150 et seq.

ALR.

- Priority of assignment of chose in action over subsequent garnishment as affected by lack of notice to debtor of assignment, 52 A.L.R. 109.

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