Arizona § 44-1032 - Assignment for the benefit of consenting creditors; effect; execution of release by creditors
Full text of Arizona Arizona Revised Statutes § 44-1032 — Assignment for the benefit of consenting creditors; effect; execution of release by creditors, with citation guidance and answers to common questions.
§ 44-1032. Assignment for the benefit of consenting creditors; effect; execution of release by creditors
Any debtor desiring to do so may make an assignment for the benefit of such of his creditors only as will consent to accept their proportional share of his estate, and discharge him from their respective claims. In such case the benefits of the assignment shall be limited and restricted to the creditors consenting thereto. The debtor shall thereupon be discharged from all further liability to the consenting creditors on account of their respective claims, and when paid they shall execute and deliver to the assignee, for the debtor, a release therefrom.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 44-1032
What does Arizona Revised Statutes § 44-1032 cover?
Section 44-1032 ("Assignment for the benefit of consenting creditors; effect; execution of release by creditors") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 44-1032?
A common citation format is "Arizona Revised Statutes § 44-1032" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 44-1032 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.