Missouri § 426.010 Voluntary assignment — execution of.

Missouri Statutes

§ 426.010 — Voluntary assignment — execution of.

Missouri § 426.010

Title XXVIIDEBTOR-CREDITOR RELATIONS

Ch. 426Assignment for Benefit of Creditors

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Bluebook

Mo. Rev. Stat. § 426.010 (2026).

Text

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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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.

Legislative History

(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.