Chapter 727 General Assignments
- 727.101 Intent of chapter.
The intent of this chapter is to provide a uniform procedure for the administration of insolvent estates, and to ensure full reporting to creditors and...
- 727.102 Jurisdiction of proceedings and venue.
All proceedings under this chapter shall be subject to the order and supervision of the circuit court for the county where the petition is filed...
- 727.103 Definitions.
As used in this chapter, unless the context requires a different meaning, the term: (1) "Asset" means a legal or equitable interest of the assignor in...
- 727.104 Commencement of proceedings.
(1)(a) An irrevocable assignment and schedules shall be made in writing, containing the name and address of the assignor and assignee and providing for an equal...
- 727.105 Proceedings against assignee.
Proceedings may not be commenced against the assignee except as provided in this chapter, but nothing contained in this chapter affects any action or proceeding...
- 727.106 Turnover.
Any person or entity, other than a creditor, in possession, custody, or control of assets of the estate shall, upon notice by the assignee of...
- 727.107 Duties of assignor.
The assignor shall: (1) Assist the assignee in the administration of the estate and comply with all orders of the court; (2) Upon delivery of the assignment...
- 727.108 Duties of assignee.
The assignee shall: (1) Collect and reduce to money the assets of the estate, whether by suit in any court of competent jurisdiction or by public...
- 727.109 Power of the court.
The court shall have power to: (1) Enforce all provisions of this chapter. (2) Set, approve, or reconsider the amount of the assignee's bond. (3) Upon notice and...
- 727.110 Actions by assignee and other parties in interest.
(1) All matters requiring court authorization under this chapter shall be brought by motion, except for the following matters, which shall be brought by supplemental proceeding,...
- 727.111 Notice.
(1) The assignee shall give notice of the assignment by publication in a newspaper of general circulation published in the county where the petition is filed...
- 727.112 Proof of claim.
(1) All claims other than claims of creditors with liens on assets of the estate, whether contingent, liquidated, unliquidated, or disputed, which arose prior to the...
- 727.113 Objections to claims.
(1) At any time prior to the entry of an order approving the assignee's final report, the assignee or any party in interest, including another creditor...
- 727.114 Priority of claims.
Allowed claims shall receive distribution under this chapter in the following order of priority and, with the exception of paragraph (1)(a), on a pro rata...
- 727.115 Resignation or removal of assignee.
(1) The court shall remove or replace the assignee on application of the assignor, of the assignee, or of any creditor, or on its own motion,...
- 727.116 Assignee's final report and discharge.
(1) Upon distribution of all assets of the estate, the assignee shall petition the court for his or her discharge upon notice and a hearing in...
