Full text of Utah Utah Code § 6-2-108 — Duties of assignee., with citation guidance and answers to common questions.
§ 6-2-108. Duties of assignee.
Effective 5/6/2026 6-2-108.
Duties of assignee.
(1)
Subject to Section 6-2-122, an assignee has a fiduciary duty to the assignment estate for the benefit of creditors:
(a)
of loyalty, including the duty to manage the assignment in good faith;
(b)
to use reasonable care to maximize distributions under Section 6-2-114; and
(c)
to wind up the assignment under Section 6-2-18 in a manner compatible with the best interests of the assignment estate and creditors.
(2)
Without limitation on the duties under Subsection (1), and subject to Section 6-2-122, the assignee also has a duty to:
(a)
maintain a separate deposit account for funds related to the assignment;
(b)
collect on or dispose of each assigned asset, unless the assignee determines abandoning the asset is more economically efficient;
(c)
prepare and retain appropriate business records, including a record of each receipt, disbursement, and collection on or disposition of an assigned asset;
(d)
pay administrative expenses of the assignment estate, to the extent the assignment estate has sufficient unencumbered assets;
(e)
establish a method that is reasonably designed to permit a creditor to submit a proof of claim;
(f)
establish a single date by which creditors whose claims are not otherwise allowed without timely proofs of claim under this chapter must submit proofs of claim, which must be not less than 90 and not more than 210 days after the effective date of the assignment agreement;
(g)
unless a claim would receive minimal or no distribution without regard to the claim's validity or asserted priority, examine the validity and priority of claims against the assignment estate and, if necessary, consult with the representative designated by the assignor under Subsection 6-2-107(2)(d);
(h)
at least every six months, provide to each creditor a summary of the assets, liabilities, and expenses of the assignment estate;
(i)
comply with all requirements of the Internal Revenue Service and state and local taxing authorities;
(j)
send a notification to each creditor of the assignee's compensation and any change in the method of determining the assignee's compensation from the method provided in the assignment agreement;
(k)
send a final accounting under Subsection 6-2-118(1); and
(l)
comply with the other requirements imposed on the assignee under this chapter.
Section 6-2-108 ("Duties of assignee.") is part of the Utah Code, the codified statutory law of Utah. 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 Utah § 6-2-108?
A common citation format is "Utah Code § 6-2-108" (Utah). 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 Utah law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.
How does Utah § 6-2-108 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.
