No assignment of future earnings or wages shall be valid: (1) For a period exceeding one year from the date of the assignment; (2) Unless made to secure a debt contracted prior to or simultaneously with the execution of the assignment; (3) Unless executed in writing in the standard form set forth in § 28-15-3 and signed by the assignor in person and not by attorney; and (4) Unless the assignment truly states the date of its execution, the money or the money value of goods actually furnished by the assignee and the rate of interest, if any, to be paid on it.
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