Any corporation, not municipal, may make an assignment for the benefit of creditors; but no such corporation shall be allowed in such assignment to prefer any creditor or class of creditors, except creditors who have debts entitled to priority by law.
(Ga. L. 1894, p. 90, § 1; Civil Code 1895, § 2698; Civil Code 1910, § 3231; Code 1933, § 28-302.)
RESEARCH REFERENCES
Am. Jur. 2d.
- 6 Am. Jur. 2d, Assignments for Benefit of Creditors, § 10.
ALR.
- Right of resident creditors of foreign corporation to preference over nonresident creditors, 1 A.L.R. 648.
Right of creditor of corporation to maintain action or suit for his own benefit against another creditor to whom corporation has given a preference, 12 A.L.R. 246.
Right of corporation to prefer creditors, 19 A.L.R. 320; 38 A.L.R. 90; 48 A.L.R. 479; 56 A.L.R. 207; 62 A.L.R. 738.
Waiver of right of government to preference in the assets of insolvent debtor by taking security, 24 A.L.R. 1495; 83 A.L.R. 1119.
Priority as between different assignees of same chose in action as affected by notice to debtor, 31 A.L.R. 876; 110 A.L.R. 774.
Power of municipality to transfer or assign its right to enforce assessment or lien for local improvements, 55 A.L.R. 667.
Payment of depositor's check after insolvency of bank as an unlawful preference, 74 A.L.R. 937.
Debtor's return of merchandise to selling creditor for credit as preferential transfer voidable in bankruptcy proceedings, 62 A.L.R.2d 774.
Validity of provision in deed or transfer to assignee for benefit of creditors for payment of attorneys' fees, 79 A.L.R.2d 513.