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Current as of January 01, 2024 | Updated by Findlaw Staff
Within 20 days after an assignment is made for the benefit of creditors, the assignor must make and file, in the manner prescribed by 31-2-215, 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; and
(7) all of the assignor's property at the date of the assignment, both real and personal, of every kind, not so exempt; the encumbrances existing thereon; all vouchers and securities relating thereto; and the value of such property, according to the best knowledge of the assignor.
Cite this article: FindLaw.com - Montana Title 31. Credit Transactions and Relationships § 31-2-213. Inventory required - last updated January 01, 2024 | https://codes.findlaw.com/mt/title-31-credit-transactions-and-relationships/mt-st-31-2-213/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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