7.08.010 - Assignment must be for benefit of all creditors.

Assignment must be for benefit of all creditors.

No general assignment of property by an insolvent, or in contemplation of insolvency, for the benefit of creditors, shall be valid unless it be made for the benefit of all of the assignor's creditors in proportion to the amount of their respective claims.

[2004 c 165 § 36; 1893 c 100 § 1; 1890 p 83 § 1; RRS § 1086.]

Notes: Purpose -- Captions not law -- 2004 c 165: See notes following RCW 7.60.005.