True Democrat. (Paulding, Miss.) 1845-18??, 1846-03-18

Then thou wilt wake again, ana bless
NV sigh. with living loVellntss.
An act to amend an act entitled an act to pre-
scribe the mode of proceeding against incor'
poratcd banks for violation of their corpo
rate franchises, and against persons pretend
ing to exercise corporate privileges under
acts of incorporation and for other purposes,
approved, July 26, 1913.
Section /. Be il enacted Gy tie Legislature
eChe Stale Of Mississippi That the trustees
appointed, or to be appointed underline provisions
ofthe act to which this is an amendment, shall
before entering upon their duties, execute bond
with security, to be approved by the said court,
in penalty to be designed by the court, paya'
bic to the Governor Of the State conditioned for
the faithful Performance Of the duties enIoincd
upon them by this act and the act to whichth this
is an amendment
Sec. 2. BE IL further enacted, That 1t shall
be the duty of all persons having possession oil
any property or evidences Of debt Of any corpo-
ration, against which judgment Of forfeiture
shall be rendered, upon demand beiag made
upon them by the trustee or trustees, to surron.
der forthwith to such trustee ortrusees, all such
property or evidence of debt and upon failure 70
surrender such person or persons, shall be
deemed guilty Of contempt of said court, and
punishable as in other cases " contempt
Sec. 3 BE ufarther enacted, That on or be-
fore the first day of the term of the count next
succeeding their appointment, il shall be the du-
~ of said trustee or trustees, TO return TO said
court under oath, full inventory OF all the
property and evidences ofdebt which have come
into their possession, and said inventory shall
be recorded by the clerk.
Sec. 4. BE IL FURTHER enacted, That when
the inventory is relured as aforesaid, the trustee
shall proceed to sell, under the order Of said
court to the highest bidder for cash, all the pro-
perry and evidences of debt, specified and set
forth in inventory the real estate shall be sold
before the court house door Of the county where
said real estate is so situated; the personal estate
before the court house in the county whcIethe
bank was situated; and the bills receivable, notes,
judgments, DEGREES, and other evidences oldebL
secured in the whole or in part by mortgages
on land shall be sold before the count house in
The county where said lands are situated; and
other bonds, bills, notes judgments DEGREES, ard
other evidences Of debt, shall be sold IN the
coua,ies where the principal debtor or debtors
live. or their executors or administrators reside
and If the principal debtor or debtors be non
resident the sale shall be ia the county wherc
the security or securities reside, at tie court
house. as in other cases as Aforesaid; said trus-
fec shall give ninety days notice Of the time aud
Mace Of such sale, under this act notice shall
De posted up in two public places in the county
in which such sale is to take place, and one in
a public newspaper printed in this State Said
trustee shall render an account Of said sale I'M
der oath, ia like manner as his inventory.
Sec. 5. Be Il further snaeied, That It shall
no, be lawful for any trustee to become either
directly or indirectly, purchaser al his own
sale, orio act ia any way as the agent or repre-
sentative ola purchaser, and all purchases IN
violation Of this section shall be void.
Sex. G Be a. further enaotod, That al lheterm
a. which judgment offorfeituro beTen3ercd, The
count shall appoint three commissioners 10 audit
claims against such corporation, whose duty Il
shall be TO give notice 10 all persons holding
claims ogaina such corporation TO present them
10 said commissioners for allowance and said
commissioners shsll audit and allow all the