Tap any paragraph to write a margin note. Your notes collect in the Desk below the text and file under cases with @. The side-by-side margin rail opens on a larger screen.

§
Marginalia
Code · Massachusetts · Part II — REAL AND PERSONAL PROPERTY AND DOMESTIC RELATIONS · Title II — PROCEEDINGS IN CRIMINAL CASES · Chapter 203

Section 40: Trusts for the benefit of creditors; validity of certain acts of trustees; insolvency proceedings

107 words·~1 min read·/ma/part-ii/title-ii/chapter-203/40

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Section 40. If a debtor residing in the commonwealth has made an assignment to a trustee for the benefit of his creditors, the acts of the trustee thereunder in protecting and caring for the property and converting it into money, if done in good faith and with reasonable judgment and discretion, shall, subject to the following section, be valid notwithstanding subsequent proceedings in insolvency by or against the debtor, and the assignee in insolvency shall, if such assignment is avoided by him, recover the net amount of money received for, or the price of, the property sold and converted by such trustee instead of the property itself.
★   the supreme law of the land   ★
Don't Tread on Me
E Pluribus Unum — out of many, one

"If you don't know your rights, you don't have any."

Marginalia · a citizen's law index
A research desk, not legal advice. Always read the cited source before relying on a summary.
Questions or an issue? support@self-law.org
disclaimerMarginalia is a research index, not a law firm. Nothing on this site is legal, tax, or financial advice and no attorney–client relationship is formed by using it. Statutes, regulations, and case law change; summaries, search results, AI output, and member posts may be incomplete, out of date, or wrong. Any interpretation drawn from material on this site should be validated by a licensed attorney in your jurisdiction before you act on it.