Chapter 6 — ASSIGNMENT FOR CREDITORS
26 sections in this chapter.
Neb. Rev. Stat. § 6-101 Title.
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Sections 6-101 to 6-126 shall be known and may be cited as the Uniform Assignment for Benefit of Creditors Act.
Neb. Rev. Stat. § 6-102 Definitions.
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In the Uniform Assignment for Benefit of Creditors Act: (1) Affiliate means: (A) a person that directly or indirectly owns, controls, or holds, with power to vote, twenty percent or more of the outstanding voting interests of another person, other than a person that holds the int…
Neb. Rev. Stat. § 6-103 Scope.
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The Uniform Assignment for Benefit of Creditors Act applies to an assignment made by an assignor that is: (1) an organization whose principal place of business is in this state; (2) an organization whose internal affairs are governed by other law of this state; (3) an individual …
Neb. Rev. Stat. § 6-104 Requirements for assignee and assignment agreement.
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(a) An assignee must be a person that: (1) is not a creditor, affiliate, or insider of the assignor; (2) is not an affiliate or insider of a creditor of the assignor; (3) does not have a claim against the assignment estate, other than a claim for fees and expenses to be paid unde…
Neb. Rev. Stat. § 6-105 Effect of assignment; when assignment agreement effective.
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(a) An assignee obtains the rights, title, and interests of the assignor in the assigned assets. (b) If the assignor is an organization, an assignee obtains the rights, title, and interests of the assignor in assets acquired after the assignment. (c) Except as provided in subdivi…
Neb. Rev. Stat. § 6-106 Filing, recording, and title transfer requirements.
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(a) In this section, financing statement has the same meaning as in section 9-102, Uniform Commercial Code. (b) An assignee of a legal or equitable interest in personal property may file a financing statement in the filing office of: (1) this state established for purposes of sec…
Neb. Rev. Stat. § 6-107 Notification to creditors.
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(a) Unless a creditor waives in a signed record the right to notification, an assignee shall send a notification of the assignment to each creditor known to the assignee within a reasonable time not to exceed thirty days after the effective date of the assignment agreement. (b) T…
Neb. Rev. Stat. § 6-108 Duties of assignor.
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(a) Subject to section 6-123, an assignor has a duty to take all reasonable actions necessary for the assignee to administer the assignment, the assigned assets, and the assignment estate. (b) In furtherance of the duty under subsection (a) of this section, the assignor shall: (1…
Neb. Rev. Stat. § 6-109 Duties of assignee.
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(a) Subject to section 6-123, an assignee has a fiduciary duty to the assignment estate for the benefit of creditors: (1) of loyalty, including the duty to manage the assignment in good faith; (2) to use reasonable care to maximize distributions under section 6-115; and (3) to wi…
Neb. Rev. Stat. § 6-110 Powers of assignee.
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(a) An assignee has the powers necessary or appropriate to perform the assignee's duties. (b) Unless the assignment agreement expressly provides otherwise, the assignee has power to: (1) operate an existing business that uses an assigned asset, including preservation of the asset…
Neb. Rev. Stat. § 6-111 Allowed claim.
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(a) An assignee shall allow a creditor's claim if: (1) the creditor submits a proof of claim in compliance with section 6-113; and (2) the assignee does not dispute the claim under section 6-112 before final distribution. (b) An assignee may: (1) allow a claim, pay a known liquid…
Neb. Rev. Stat. § 6-112 Disputed and disallowed claims.
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(a) An assignee may dispute a creditor's claim before final distribution by sending notification in a record stating the nature of the assignee's dispute to the creditor. (b) If a dispute cannot be resolved consensually, the assignee may commence a proceeding under section 6-121 …
Neb. Rev. Stat. § 6-113 Proof of claim.
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(a) A proof of claim must: (1) state the name, address, and other contact information reasonably necessary to communicate with the creditor; (2) state the amount of the claim; (3) briefly state the nature of the claim; (4) identify any asset of the assignment estate securing the …
Neb. Rev. Stat. § 6-114 Rights of transferees.
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(a) An assignee's disposition of an asset: (1) transfers to a transferee for value all of the assignee's rights in the asset; (2) discharges the assignee's lien and, to the extent the assignment creates a security interest in favor of the assignee, the assignee's security interes…
Neb. Rev. Stat. § 6-115 Distributions.
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(a) In this section, protected secured creditor means a secured creditor whose lien: (1) is a perfected lien; (2) cannot be avoided by the assignee under subdivision (b)(12) of section 6-110; and (3) is not subordinate to the assignee's lien. (b) Except as provided in section 6-1…
Neb. Rev. Stat. § 6-116 Claim subordination.
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(a) A subordination agreement is enforceable under the Uniform Assignment for Benefit of Creditors Act to the same extent the agreement is enforceable under other law. (b) Subject to subsection (c) of this section, the following claims are subordinate to a claim or interest that …
Neb. Rev. Stat. § 6-117 Liability.
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(a) An assignor is not personally liable for an act or omission by the assignee. (b) An assignee is not personally liable for an act or omission by the assignor. (c) A representative designated by an assignor under subdivision (b)(4) of section 6-108 is exculpated to the same ext…
Neb. Rev. Stat. § 6-118 Assignee removal; successor assignee.
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(a) The assignor or a creditor may request a court of competent jurisdiction in this state to remove the assignee, if the assignor or creditor has a reasonable belief grounds for removal exist under subsection (b) of this section. (b) After a request under subsection (a) of this …
Neb. Rev. Stat. § 6-119 Winding up.
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(a) On completion of an assignee's duties, the assignee shall send a creditor whose claim is allowed under section 6-111, and not satisfied in full, a final accounting sufficient to inform the creditor of all material aspects of the assignment, including: (1) a description of the…
Neb. Rev. Stat. § 6-120 Interstate matters.
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(a) Subject to subsection (b) of this section, an assignment made under the law of another state must be recognized and enforced on an issue if the result for the issue would be substantially similar to the result for the issue if the assignment had been made under the Uniform As…
Neb. Rev. Stat. § 6-121 Court action.
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(a) A court of competent jurisdiction in this state may hear and resolve a matter involving the administration of an assignment or the exercise of an assignee's powers and duties, including a request for instructions or approval or to declare rights. (b) Without limiting the righ…
Neb. Rev. Stat. § 6-122 Ancillary assignee.
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(a) Subject to other law of this state governing a person from another state serving as a fiduciary in this state, a court of competent jurisdiction in this state may appoint a person serving as an assignee in an assignment in another state, or the person's nominee, as an ancilla…
Neb. Rev. Stat. § 6-123 Provisions variable by agreement.
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(a) Except as provided in this section and subsection (b) of section 6-110, the provisions of the Uniform Assignment for Benefit of Creditors Act may not be varied by agreement. (b) The duties under subsection (a) of section 6-108 and subsection (a) of section 6-109 may not be di…
Neb. Rev. Stat. § 6-124 Uniformity of application and construction.
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In applying and construing the Uniform Assignment for Benefit of Creditors Act, a court shall consider the promotion of uniformity of the law among states that enact it.
Neb. Rev. Stat. § 6-125 Relation to Electronic Signatures in Global and National Commerce Act.
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The Uniform Assignment for Benefit of Creditors Act modifies, limits, or supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. 7001 et seq., but does not modify, limit, or supersede 15 U.S.C. 7001(c) or authorize electronic delivery of any of the not…
Neb. Rev. Stat. § 6-126 Transitional provision.
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The Uniform Assignment for Benefit of Creditors Act applies to an assignment made on or after July 18, 2026.