600.5211 Specific powers of assignee.

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

Sec. 5211.

Among other things the assignee has the power to:

(1)Sue in his own name as such assignee and recover all the estate, debts and things in action belonging to or due to such assignor in the manner and with like effect as he might or could have done if an assignment had not been made, but no suit seeking equitable relief shall be brought by the assignee involving less than $500.00 without the consent of the court.

(2)Take into his hands all the estate of such assignor whether delivered to him or afterwards discovered, and all books, vouchers and papers relating to the same;

(3)From time to time sell the assets at public auction or at private sale, as herein provided;

(4)Redeem all mortgages and conditional contracts or other incumbrances and pledges of personal property; or sell such property subject to such incumbrances, contracts or pledges;

(5)Settle all matters and accounts between such assignor and his debtors and creditors and examine, on oath to be administered by him, any person touching such matters and accounts;

(6)Compound with any person indebted to such assignor, under order of said court or judge;

(7)Prosecute or defend suits pending in favor of or against the assignor.

History: 1961, Act 236, Eff. Jan. 1, 1963