Uniform Assignment for Benefit of Creditors Amendments

Summary

The bill establishes a new Uniform Assignment for Benefit of Creditors Act that sets rules for how a debtor can transfer all assets to a creditor-controlled assignee. It defines who can be an assignor or assignee, how claims are handled, and how assets are distributed. The change aims to give debtors and creditors a clear, consistent process across Utah.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share