Upon the request of any three of the creditors of the assignor, the assignee shall make and file a bond with surety, in a sum to be fixed by the judge of the superior court, conditioned for the faithful performance of his trust, which bond shall be made payable to the judge of the probate court of the county and his successors in office, for the benefit of all creditors of the assignor. In no case shall the bond be less than the estimated value of the property assigned.
(Ga. L. 1894, p. 90, § 10; Civil Code 1895, § 2707; Civil Code 1910, § 3240; Code 1933, § 28-311.)
RESEARCH REFERENCES
Am. Jur. 2d.
- 6 Am. Jur. 2d, Assignments for Benefit of Creditors, §§ 4, 5.
C.J.S.- 21 C.J.S., Creditor and Debtor, § 45.
ALR.
- Power, after institution of bankruptcy proceedings, of court in which receivership or assignment proceedings have previously begun, to allow or pay fees or other compensation or expenses connected therewith, 90 A.L.R. 1217.