Section 3. Requisites of general assignment  


Latest version.
  • Every conveyance or assignment
      made by a debtor of his  estate,  real  or  personal,  or  both,  to  an
      assignee  for  the  creditors  of  such debtor, shall be in writing, and
      shall specifically state therein the  residence  and  kind  of  business
      carried  on by such debtor at the time of making the assignment, and the
      place at which such business shall then be conducted, and if such  place
      be in a city, the street and number thereof, and if in a village or town
      such apt designation as shall reasonably identify such debtor.
        Every  such conveyance or assignment shall be duly acknowledged before
      an officer authorized to take the acknowledgment of deeds and  shall  be
      recorded  in  the  county clerk's office in the county where such debtor
      shall reside or carry on his business at the date thereof. An assignment
      by copartners shall be recorded in the county where the principal  place
      of  business  of  such  copartners  is  situated.  An  assignment  by  a
      corporation shall be recorded in the county where its principal place of
      business is situated. When real property  is  a  part  of  the  property
      assigned,  and  is  situated in a county other than the one in which the
      original assignment is required to be recorded, a certified copy of such
      assignment shall be filed and recorded in the county where such property
      is situated.
        The assent of the assignee, subscribed and acknowledged by him,  shall
      appear  in  writing,  embraced in or at the end of, or indorsed upon the
      assignment, before the same is  recorded,  and,  if  separate  from  the
      assignment, shall be duly acknowledged.
        In all cases where an assignment is made by a corporation the right to
      recover  the amount due from stockholders on unpaid capital stock issued
      to or subscribed  for  by  them  shall  pass  to  the  assignee  whether
      mentioned in the assignment or not.