54-9-7. Inventory required of assignor--Contents--Verification.

234 words·~1 min read·/sd/title-54/chapter-54-9/54-9-7

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

Within twenty days after an assignment is made for the benefit of creditors, the assignor must make and file in the manner prescribed by § 54-9-8 , a full and true inventory, showing:

(1)All the creditors of the assignor;

(2)The place of residence of each creditor, if known to the assignor, or if not known, that fact must be stated;

(3)The sum owing to each creditor, and the nature of each debt or liability, whether arising on written security, account, or otherwise;

(4)The true consideration of the liability in each case, and the place where it arose;

(5)Every existing judgment, mortgage, or other security for the payment of any debt or liability of the assignor;

(6)All property of the assignor at the date of the assignment which is exempt by law from execution;

(7)All the assignor's property at the date of the assignment, both real and personal, of every kind not so exempt, and the encumbrances existing thereon, and all vouchers and securities relating thereto, and the value of such property according to the best knowledge of the assignor.

An affidavit must be made by every person executing an assignment for the benefit of creditors, to be annexed to and filed with the inventory, to the effect that the same is in all respects just and true, according to the best of such assignor's knowledge and belief.