Pennsylvania Statutes Title 39 P.S. Insolvency and Assignments § 39. Effect of failure to record assignment

A failure to record shall not in any manner affect the assignment; but if the assignee fails to record it within fifteen days after its delivery, his compensation as assignee shall be reduced by a sum sufficient to pay the costs, expenses and counsel fees of any creditor, or creditors, who in ignorance thereof bring suit or proceed with one already brought, and such sums shall be paid to such creditors.