California Code of Civil Procedure

§ 493.010

CCP § 493.010Title 6.5 · Part 2 · Ch. 13

As used in this chapter, “general assignment for the benefit of creditors” means an assignment which satisfies all of the following requirements:

(a)The assignment is an assignment of all the defendant’s assets that are transferable and not exempt from enforcement of a money judgment.

(b)The assignment is for the benefit of all the defendant’s creditors.

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Legislative history

Amended by Stats. 1982, Ch. 1198, Sec. 61. Operative July 1, 1983, by Sec. 70 of Ch. 1198.