Iowa Code

Iowa Code § 681.1 (2026)

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No general assignment of property by an insolvent person, firm, or corporation, or in contemplation of insolvency, for the benefit of creditors, shall be valid unless it be made for the benefit of all the creditors in proportion to the amount of their respective claims; and in every such assignment the assent of the creditors shall be presumed. [C51, §977, 978; R60, §1826, 1827; C73, §2115, 2116; C97, §3071; C24, 27, 31, 35, 39, §12720; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §681.1]

Notes of Decisions

Cited in 2 cases, 1980–1994 · leading case: Wilkin Elevator v. Bennett State Bank, 522 N.W.2d 57 (Iowa 1994).

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Wilkin Elevator v. Bennett State Bank, 522 N.W.2d 57 (Iowa 1994). · cites it 4× “The feed store has asserted that the transfer of assets to the bank by the Beu-thiens on October 25, 1991, was improper on two grounds: it was made in violation of Iowa Code section 681.1 (1991), and it was a fraudulent transfer.”

State v. Brant, 295 N.W.2d 434 (Iowa 1980). “Brant, aided and abetted LeRoy Rand in a robbery of Mark Alan Coombs at the Quick Trip Store, and that in the course of the robbery LeRoy Rand murdered Mark Alan Coombs under § 681.1, The Code. The defendant therefore is tried and punished as a principal under § 690.”

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