85-1-3 - Schedules of liabilities and assets to be filed.
§ 85-1-3. Schedules of liabilities and assets to be filed.
With every general assignment there shall be filed, unless the data all appear on its face, at least two schedules. One of them, a schedule of liabilities, must set forth, so far as known to the assignor:
(a) The name of each of his creditors;
(b) The post-office address of each of them;
(c) The sum due each;
(d) How each debt is evidenced;
(e) The amount of interest each debt bears, and if in any way the debt is usurious, the facts must be stated;
(f) The consideration for each debt; and in case of renewals the history of the transaction must be traced to the original consideration; and
(g) What security, if any, each creditor has.
The other, a schedule of assets, must describe the property conveyed, and give its location and value. Both schedules-and if the data be in the face of the deed, then the assignment-must be under the oath of the assignor avowing the truthfulness of the matters of fact stated. A general assignment which does not comply with this section shall be void as to all preferences contained in it.
Sources: Codes, 1892, § 124; 1906, § 128; Hemingway's 1917, § 115; 1930, § 118; 1942, § 306.