Louisville messenger. (Louisville, Miss.) 1842-1843, 1843-08-19

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Section 7. Ne. II further enacted
That none Of the provisions Of this
act shall be- ~ construed ne 10 prevent
any bank or corporation, assignee oi
assigncca, or any Of their officers o.
agents, from suing ont attachments
In the srme manner, and for The same
cause tlat other creditors arc allow
cd lawfully to do.
Section y. BE II further enacted
That upon judgment of forfeiture
against any bank or banks, corpora
ton or corporations, person or per.
sons, pretending to exercise corpo
rate powers in this State, rs contcm.
plated by this act, the debtors Of such
bank or banks, corporation or corpo-
rations, person or persons, pretending
to exercise corporate privileges,
shall not be released by such judg-
ment from their debts aud liabilities
to the same; but it shall be the duty
ofthe court erndering such judgment
to appoint one or more trustees to
take charge Of the books and assets
ofthe same; to sue for and collect all
debts due such bank or banks, cor
poratlon or corporations, person or
persons pretending 10 exercise corpo-
rate powers, and TO sell and dispose
OF all property owned by such bank
or banks, corporation or corporations,
person or persons pretending to ex.
ercise corporate powers, or held by
others for its or their use, and The
proceeds Of the debts when collected.
and Of the property when sold, to
apply as may hereafter be directed
by law to the payment of the debts
Of such bank or banks, corporation or
corporations, or persons pretending
TO exercise corporate powers: Pro-
vidtd further, That the notes of any
such bank or banks, corporation or
corporations, or Others pretending TO
exercise corporate powers, shall at
all times be received in pa, ment of
any debt due the same.
Section 9. Be il further enacted
That such trustees shall give bond
with good and sufficient security, in
a penalty to be prescribed by The
court, or determined by law, con-
dltioned to diligently and faithfully
collect the debts due such bank or
banks, corporation or corporations,
oTPerson or persons pretending to ex-
ercise corporate powers, and to sell
and dispose of the property belong.
Ing to the same, and the proceeds
when collected, to pay over as may
hereafter be directed: Provided ho,o-
ever, That the compensation allowed
to such trustees shall be paid in pre-
ference to all Others, but shall in no
case be chargeable upon the public
treasury.
Section 10. Be it further enacted,
That if any trustee shall embezzle or
convert to his own use, or fail to pay
over to his successor in Office, or to
others, as may be directed by law,
any Of the proceeds or assets of any
such bank or banks or other corpora
tons, or person or persons, pretending
10 exercise corporate powers, shall,
upon indictment and conviction
thereof, in addition to the payment of
his bond, be imprisoned in the peni-
tertiary not less than two years, nor
more than ten years, for each and
every offence.
Section IL. Be it further enacted,
That the foregoing section of this
act, shall not, nor any part thereof.
be so construed as to release any
person or persons interested in, or
any way connected with, any such
bank or banks, corporation or corpo-
rations, or person or persons, preten-
ding to exercise corporate powers
from his individual liabilities, for any
fraud or Encouragement Of the same.
Section l2. And be it further en-
acted, That this act shall take effect
and be in force from and after its
passage.
Approved, 26th July, ls4s.
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