Vandalia Whig and Illinois intelligencer. [volume] (Vandalia, Ill.) 1832-183?, 1833-03-06
LAWS OF ILLINOIS

AN ACT, supplemental to the several acts.
for finally closing the affairs Of the State
Bank and br, nches
Sec. J.. Bet enacted by the People Of the State
of Illinois, represented in the General Assembly,
| That the State Treasurer, be and he is hereby
required as Treasurer, to do and perform all
the duties which have been required of the
late cashier of the principal bank, and as Trea-
surer, to keep books in which shall be contain
ed all the accounts of the State bank, and
branches.
Sec. 3. 1t shall be the duty Of the treasurer
to call on the attorney general, and states ats
ltorneys, and require semi annual report, OF
all debts due said bank in their respective cirS
cults, whether due by note, bond, mortgage, or
otherwise, with particular statement OF the
situation and solvency of the debtor or debtors,
and the probability of collecting the same;
and he shall cause to be delivered to the said
attorney general and states atorneys,if not al
ready in their hands, all notes, bonds, mortga-
ges &c for collection, in the circuits in which
they are respectively required 10 prosecute,
and take their receipts for the same.
SEC. 8 1t shall be the duty of the said at
torney general, and states attorneys 70 pros
coed with all possible despatch, to collect, or
otherwise secure, in the best manner they can,
all the debts due to the said state bank; they
shall have power, and it is hereby made their
duty, to call on the several Justices of the
peace, or other officers in whose hands
any notes, bonds, mortgages, &c. have, at any
time been placed, and take such.stepssin rela-
lion to them, as may be deemed most advisa-
bic, TO carry into effect, the objects of this act
Sec A. In all cases where the debtors to
said bank, COLLECTORS, and persons owing for
property bought of the bank excepted) shall
desire to make prompt payment Of their debts,
they shall be permitted to do SO, at any time
before the first day of January next, aud shall
entitled 10 a deduction of all interest due, or
| to become due. in and by said notes, bonds sc.
and ten per cent of the principal, Propided
Thatin no case shall the amount so dis
counted, exceed twenty five per cent; An ex-
ecution shall be stayed in all such cases, until
the said first day of January next. Provided.
Where in the opinion of the said attorneys,
there shall be manifest danger of debts being
lost by such delay, the execution shall no; be
stayed, unless the judgment debtor, will give
additional security, to be entered upon the
back of said execution, or on the docket, or
record, from whence the same issued, and witt
messed by the sheriff, or other officer hav
ing charge of the same. And the security SO
entered shall be considered as new party, to
such judgment and execution, and may be pro-
ceeded against by a new execution, jointly with
the original debtor or debtors.
/ SIC. S. Whenever there may be any pro-
perty morgaged to said Bank, or which has
been bought in for the use Of the State, under
hnr 10, Sbo1 hea tho of
the said attorney general, and states attorneys
to cause the said mortgages to be tore-closed,oc
! the property which may have been bought, in
like manner sold, on credit of two years, the
purchaser giving security, by confession of
Judgment, with release ferrors,in judgement
bond, and there shall always be lien on the
property 50 sold for the payment of the pur
chase money. Whenever it shall become ne
cessarv to sell any property, now belonging to
the said bank, or to the state, under the prov,s-
ions of this, 1t shall be the duty of the said
fattorDey general, or states attorneys, to give
at least six weeks previous notice of the time,
place, and terms of sale, in the newspaper
printed by the public printer, and also by put
ting up notices of the same, in at least three of
the most public places in the county where the
property is situated, and the sale shall be at
public vendue, and between the hours of ten
O'Clock in the morning and four o'clock in the
evening; and if it shall not be in the power Of
the Attorney General or States Attorneys, to
attend at the day of sale, he or they may by
letter, authorize tho Sheriff of such county, to
do and perform whatever is required Of the
said Attorney General or States Attorneys,by
the provisions Of this act, and make report Of
their proceedings accordingly, which shall be
as binding as if done by the said Attorney Gen.
era or Staleh Attorneys.
Sec. 6. Whenever any property shall be au-
thorlzed to be sold by order of Court on fore
closure of mortgage, the same shall be done
in pursuance of existing laws in that case made
and provided, but the terms shall be the same as
are required by this act.
4 SEC. I. The. estate Of any deceased person,
who was bound to the said bank, either as prin-
lcipal or security, shall be discharged from all
liabilities 10 the same, where it shall be made
to appear to the satisfaction of the Circuit
Court of the proper County, that the collection
of suchdebtor, would have tendency to dis
tress the widow or orphan children of such de-
ceased debts, and upon making the fact appear
to the satisfaction Of the Court. as aforesaid
the Court shall order the same to be entered of
record, and thenceforward, such decedent's es-
tate shall be released to said widow ard Or