6-103. Scope.

132 words·~1 min read·/ne/chapter-6/6-103

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

The Uniform Assignment for Benefit of Creditors Act applies to an assignment made by an assignor that is:

(1)an organization whose principal place of business is in this state;

(2)an organization whose internal affairs are governed by other law of this state;

(3)an individual whose principal residence is in this state;

(4)an organization wholly owned, directly or indirectly, by an assignor that satisfies subdivision (1), (2), or

(3)of this section; or

(5)an organization that:

(A)is partly owned, directly or indirectly, and controlled by an assignor that satisfies subdivision (1), (2), or

(3)of this section;

(B)has no place of business or employees; and

(C)relies on the services the organization receives from an assignor that satisfies subdivision (1), (2), or

(3)of this section.