Arizona Revised Statutes (Last Updated: March 31, 2016) |
Title 44. Trade and Commerce |
Chapter 8. TRANSACTIONS AND TRANSFERS AFFECTING THE INTEREST OF CREDITORS |
Article 3. Assignments for the Benefit of Creditors |
Sec 44-1037. Notice by creditors of consent to assignment; receipt by creditor of portion of claim as consent
Latest version.
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Creditors consenting to the assignment shall give the assignee written notice of consent within four months after publication of the notice required under section 44-1035, and a creditor not assenting shall not receive or take any benefit under the assignment. A creditor who has no actual notice of the assignment may make known his assent any time before any distribution of assets is made under the assignment. Receipt by a creditor of any portion of his claim from the assignee is conclusive evidence of the assent of such creditor to the assignment.