426.010. Voluntary assignment--execution of. - Missouri Statutes

Voluntary assignment--execution of.

426.010. Every voluntary assignment of lands, tenements,goods, chattels, effects and credits made by a debtor to anyperson in trust for his creditors, shall be for the benefit ofall the creditors of the assignor in proportion to theirrespective claims; and every provision in any assignmentproviding for the payment of one debt or liability in preferenceto another shall be void, and all debts and liabilities(including judgments entered by confession thirty days previousto such assignment) shall be paid pro rata from the assetsthereof; and every such assignment shall be proved oracknowledged, and certified and recorded in the same manner as isprescribed by law in cases wherein real estate is conveyed.

(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.