CS/CS/HB 833 - General Assignments

• Defines "negative notice" as notice that allows certain actions to occur unless a response is filed within 21 days of service.

• Increases assignee's bond requirement to the higher of $25,000 or double the liquidation value of unencumbered and liquid assets of the estate.

• Authorizes assignees to conduct discovery regarding claims and causes of action, and allows business operations to continue beyond 45 days through negative notice procedures instead of requiring court orders.

• Establishes procedures for assignees to reject unexpired leases of nonresidential real property or personal property, with specific notice requirements and deadline for removal of affected property.

• Creates a standard form for assignee's deeds when selling real property of the estate, including provisions for property appraiser's parcel identification numbers.