Arizona § 44-1036 Powers of court with respect to assignee; removal of assignee; appointment of assignee to fill vacancy

Arizona Statutes

§ 44-1036 — Powers of court with respect to assignee; removal of assignee; appointment of assignee to fill vacancy

Arizona·Title 44 Arizona Revised Statutes·Ch. 8 TRANSACTIONS AND TRANSFERS AFFECTING THE INTEREST OF CREDITORS·Art. 3 Assignments for the Benefit of Creditors

A.The relationship of the court having jurisdiction of the insolvent estate and the assignee for the benefit of creditors shall be governed by the provisions which govern the relationship of a superior court and a receiver. The court shall have the same authority and jurisdiction as it has over a receiver appointed by the court.

B.If an assignee becomes unsuitable or refuses or neglects to perform the trust, or mismanages the property, the superior court may, upon application of the assignor or a creditor, upon reasonable notice by publication or otherwise to all parties interested, as the court directs, remove the assignee.

C.In case of removal of the assignee or vacancy in the office by death or otherwise the court shall appoint another in his place who shall have the same powers an

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A. The relationship of the court having jurisdiction of the insolvent estate and the assignee for the benefit of creditors shall be governed by the provisions which govern the relationship of a superior court and a receiver. The court shall have the same authority and jurisdiction as it has over a receiver appointed by the court.

B. If an assignee becomes unsuitable or refuses or neglects to perform the trust, or mismanages the property, the superior court may, upon application of the assignor or a creditor, upon reasonable notice by publication or otherwise to all parties interested, as the court directs, remove the assignee.

C. In case of removal of the assignee or vacancy in the office by death or otherwise the court shall appoint another in his place who shall have the same powers and be subject to the same liabilities as the original assignee.

Arizona § 44-1036 (Powers of court with respect to assignee; removal of assignee; appointment of assignee to fill vacancy) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.