Effective - 28 Aug 1939
426.010. Voluntary assignment — execution of. — Every voluntary assignment of lands, tenements, goods, chattels, effects and credits made by a debtor to any person in trust for his creditors, shall be for the benefit of all the creditors of the assignor in proportion to their respective claims; and every provision in any assignment providing for the payment of one debt or liability in preference to another shall be void, and all debts and liabilities (including judgments entered by confession thirty days previous to such assignment) shall be paid pro rata from the assets thereof; and every such assignment shall be proved or acknowledged, and certified and recorded in the same manner as is prescribed by law in cases wherein real estate is conveyed.
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(RSMo 1939 § 5739)
Prior revisions: 1929 § 5629; 1919 § 623; 1909 § 896
(1960) The payment of the fee of an attorney employed by the assignor and subsequently by the assignee for the benefit of creditors held not violative of the anti reference statute of Missouri. Abrams v. United States, 274 F.2d 8.
Structure Missouri Revised Statutes
Title XXVII - Debtor-Creditor Relations
Chapter 426 - Assignment for Benefit of Creditors
Section 426.010 - Voluntary assignment — execution of.
Section 426.020 - Assignee to file inventory, when and where.
Section 426.030 - Inventory to be sworn to.
Section 426.040 - Appraisers, appointment of.
Section 426.050 - Oath, filing and compensation of appraisers.
Section 426.060 - Additional property, duty of assignee.
Section 426.070 - Assignor's list of property — filing of bond of assignee — additional bond.
Section 426.080 - Bond, condition of.
Section 426.090 - Bond, where filed and recorded — approval.
Section 426.100 - Bonds taken in absence of judge, approval or rejection.
Section 426.110 - If rejected, court to order new bond — failure to give revokes authority.
Section 426.120 - Rejected bond valid until new one given — new bond relates back.
Section 426.130 - Suit on bond, by whom and when brought — damages.
Section 426.140 - Assignee to exhibit accounts, when and how — failure — citation — dismissal.
Section 426.150 - Notice of allowance of assignee's accounts by court, how given.
Section 426.160 - Expense of advertising.
Section 426.170 - Demands against estates, how and when allowed.
Section 426.190 - Assignee may administer oaths and examine witnesses.
Section 426.200 - Evidence to establish demand.
Section 426.210 - Decisions of assignee final, unless appeal asked for — appeal to circuit court.
Section 426.220 - Appeals, how taken — affidavit and bond for.
Section 426.230 - Proceedings in circuit court upon appeal.
Section 426.240 - Judgment certified to assignee and claim allowed, when.
Section 426.250 - Demand of assignee against assignor, how allowed.
Section 426.260 - Assignee failing to file true inventory and give bond, court to issue citation.
Section 426.280 - Insolvency or removal from state of surety, proceedings.
Section 426.290 - Assignee, vacancy — appointment.
Section 426.300 - Dismissal of assignee — books to be delivered to successor.
Section 426.310 - Sale of property assigned, how made.
Section 426.320 - Payments to creditors, when and in what amounts — penalty for failure.
Section 426.330 - Assignee shall exhibit condition of assets, when.
Section 426.340 - Failure to exhibit condition of assets — citation of assignee.
Section 426.350 - Assignee may apply for discharge, when and how.
Section 426.360 - Application referred to commissioner, when — proceedings.
Section 426.370 - If objections made, court to determine same, when and how.
Section 426.380 - Appeals, how taken.
Section 426.390 - Proceedings when temporary assignee fails to act, how conducted.
Section 426.400 - Court may order assignee to compromise debts, when and how.
Section 426.410 - Defining the power and authority of assignees.