47-13-116 - General assignments Prior conveyance for benefit of particular creditor. - Tennessee Statutes

47-13-116. General assignments Prior conveyance for benefit of particular creditor.

Any mortgage, deed of trust, security interest under the Uniform Commercial Code, or any other conveyance of a portion of a debtor's property for the benefit of any particular creditor or creditors, made within three (3) months preceding a general assignment and in contemplation of making a general assignment, shall be void in the event a general assignment is made within three (3) months thereafter, and the property conveyed by such conveyance shall be shared ratably by all creditors just as that embraced in general assignments.

[Acts 1881, ch. 121, § 2; Shan., § 3527a2; Code 1932, § 7788; T.C.A. (orig. ed.), § 47-1516; Acts 1963, ch. 81, § 1 (10-104).]