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2018 Georgia Code 18-2-59 | Car Wreck Lawyer

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

18-2-59. Appointment of new assignees upon death or removal from jurisdiction of courts of state of sole or surviving assignee.

In all cases of assignments for the benefit of creditors, where the sole or surviving assignee has died or moved beyond the jurisdiction of the courts of the state, the superior courts of this state shall have full power and authority, upon the petition of two or more of the parties interested in such assignment and on such notice as the court shall direct, in a summary manner, to appoint a new assignee or assignees in the place of the deceased or nonresident assignee; and the new assignee shall have all the authority and responsibilities of the deceased or nonresident assignee; and all laws or enactments shall be as applicable and in as full force in respect to the new as to the old assignee; and the court may in its discretion require a bond and security of such assignee.

(Ga. L. 1861, p. 32, § 1; Code 1868, § 2296; Code 1873, § 2322; Code 1882, § 2322; Civil Code 1895, § 3166; Civil Code 1910, § 3746; Code 1933, § 28-320.)

JUDICIAL DECISIONS

When trustee failed to appoint successor.

- When property was devised to named trustee with power to appoint trustee's own successor, but trustee died without exercising this power, judge of superior court was authorized to appoint trustee. White v. McKeon, 92 Ga. 343, 17 S.E. 283 (1893).

When trustee of naked trust died, judge might appoint successor, who could maintain ejectment on title. Logan v. Goodall, 42 Ga. 95 (1871).

Power to appoint when trust was executed by children reaching majority.

- When trust was executed by children reaching majority, a judge did not have power, on resignation of trustees after death of grantor, to appoint a successor in trust for the children. Milledge v. Bryan, 49 Ga. 397 (1873).

RESEARCH REFERENCES

Am. Jur. 2d.

- 6 Am. Jur. 2d, Assignments for Benefit of Creditors, § 86.

C.J.S.

- 21 C.J.S., Creditor and Debtor, § 43 et seq.

ALR.

- Death of principal defendant as abating or dissolving garnishment or attachment, 21 A.L.R. 272; 131 A.L.R. 1146.

Jurisdiction to garnish debt as affected by previous assignment by principal defendant to a nonresident served constructively, 39 A.L.R. 1465.

No results found for Georgia Code 18-2-59.