Tex. Bus. & Com. Code § 23.02 · Subchapter A. GENERAL PROVISIONS
NATURE AND EFFECT OF ASSIGNMENT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A debtor may assign his real and personal estate under this chapter to an assignee for the benefit of the debtor's creditors.
(b) An assigning debtor shall provide in the assignment for distribution of all his real and personal estate to each consenting creditor in proportion to each consenting creditor's claim.
(c) Regardless of an expression to the contrary, an assignment passes all an assigning debtor's real and personal estate to each consenting creditor in proportion to each consenting creditor's claim.
Notes and commentary — not statutory text
History
Acts 1967, 60th Leg., p. 2343, ch. 785, Sec. 1.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/BC/htm/BC.23.htm
- Text hash
- sha256 85c361031446c37e6461072f4dcaabfe189acb185bbcaa088429e90b5dbf4e0e
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Cited by 1 provision
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Business & Commerce Code
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