Texas Statutes (Last Updated: January 4, 2014) |
BUSINESS AND COMMERCE CODE |
Title 3. INSOLVENCY, FRAUDULENT TRANSFERS, AND FRAUD |
Chapter 23. ASSIGNMENTS FOR THE BENEFIT OF CREDITORS |
Subchapter C. DUTIES AND RIGHTS OF ASSIGNEE |
Sec. 23.19. ASSIGNEE'S DUTY TO DISTRIBUTE ASSIGNED ESTATE
Latest version.
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Each time an assignee has enough money to pay 10 percent of the assigning debtor's debts, he shall distribute the money among the creditors entitled to receive it in proportion to their claims allowed under Section 23.31(b) of this code.
Acts 1967, 60th Leg., p. 2343, ch. 785, Sec. 1.