Uniform Assignment for Benefit of Creditors Act; creates a voluntary state law process for distressed organizations to liquidate assets and distribute proceeds to creditors

This act is the Uniform Assignment for Benefit of Creditors Act. This act: (1) creates a uniform state-level alternative to federal bankruptcy that allows a debtor to voluntarily assign their assets to a fiduciary to liquidate the assets and distribute the proceeds to the assignee's creditors; (2) establishes requirements for assignment agreements, including for those who may enter into agreements, form and content of agreements, and assets subject to inclusion; (3) establishes requirements for