TITLE LVII INSOLVENCY PROCEEDINGS AND ASSIGNMENTS FOR CREDITORS
CHAPTER 568 INSOLVENCY PROCEEDINGS
Assignee and Assignment
Section 568:23
568:23 Appointment. –
The judge shall appoint as assignee such proper person as the creditors at their first meeting shall nominate by a vote of 2/3 in number of the creditors who have secured the allowance of their claims and are present at the meeting in person, or by attorney or proxy, and of a majority in value of the claims allowed. No creditor shall be eligible as assignee, and no person who has received a preference contrary to the provisions of this chapter shall be allowed to vote for assignee. If the creditors fail to nominate a suitable person, the judge shall appoint the assignee.