TITLE LVII INSOLVENCY PROCEEDINGS AND ASSIGNMENTS FOR CREDITORS
Chapter 569 ASSIGNMENTS FOR THE BENEFIT OF CREDITORS
Section 569:1
569:1 Assignments to be Recorded, etc. –
No instrument by which title to real or personal property is conveyed, transferred, or assigned to an assignee, trustee, or other fiduciary for the benefit of the creditors of the assignor shall be valid to transfer the title of the assignor therein unless such assignee, trustee, or other fiduciary is a resident of this state, nor until the same has been recorded in the office of the clerk of the town in which the assignor resides at the time of making the same, or in the office of the clerk of the town where the property is situated when the assignor resides out of the state, and in the registry of deeds in the county in which the realty, if any, is situated.
Source. 1933, 9:1. RL 420:1.
Section 569:2
569:2 Not Valid as Against Unpaid Taxes. –
No common law assignment of personal property, whether recorded or not, shall be valid to transfer to the assignee the title of the assignor therein as against any unpaid taxes assessed thereon prior to the date of said assignment. Any such unpaid taxes shall be a preferred claim as against other creditors.