The Yazoo City Whig. [volume] (Yazoo, Miss.) 1844-1851, 1846-03-13

be paid. 4. A ratable distribution shall
heSt be made alnong all creditors who have
proved their claims. 5. The surplus, il any,
shall be rafabIy distributed among the stock
holders
Seer. 8. That nothing III this ACT con>
tanned, shall be so construed as TO deprive
the debtors Of such corporation, Ct the right
10 discharge their indebtedness in notes,
bills, bonds, or other evidence Of debt Of
said corporation, at any time before the sale
of the same, as provided by the fourth sec.
ton Of this act.
Seer. 8. That in no case shall the court
appoint as trustee or trustees, any person
who is or has been, an officer, agent, attor-
ney, stockhOldel, director, or assignee Of
such corporation, or has not been resident
of this State at least Two years next proceed
ling said appointment.
SFcr. 10. That no distribution Of the
effects Of the Planters Bank and Misss-
sippi Railroad bank, shall be made among
the creditors of the same, until the whole
amount which said banks are due to this
state OH account of the seminary fund, and
literary fund, shall first be raid; and that
the bonds and coupons OF this state, issued
for the benefit OF the said banks, shall at al
times be received in payment Of any debt
! due said banks.
SECT. H. That the provisions Of this aci
shall apply TO the trustees heretofore ap
J pointed under the provisions OF Che act tc
which this is an amendment.
! SECT. II That in all cases wheneVe
jugments of custer of forfeiture, has beer
u rendered against any incorporated bank, IN
n der the provisions Of the act to which thi
q is an amendment, it shall be the duty Of tn
Judge of the Circuit Court in which sal
Z judgment was rendered, at any time of cour
D within eighteen months after the passage c
y this act, TO appoint three commissioners
D. audit claims against such banks, in ik
ID manner as is contemplated in the sixth sec
te ton Of this act; whose duty shall be ii
OF same as the commissioners appointed undo
D. and by virtue Of said sixth section; and tn
lr' act shall apply tossaid commissioners
as appointed, as fully as to those appointed u
rs der said sixth section.
u SECT. IS. That the debtors Of any ban
:" or corporation which has been or may heI
= after be Ousted of IFS franchise, by virtue
nc the act TO which this is an amendment, shi
= have the right to redeem from the purchas
DIS or purchasers, or either assignee or hold
'' Of any bond, bill, note, judgment, mortgae
10 or other evidence Of debt, at any time wit
nc in two years after the sale Of the same,
~ virtue OF the provisions Of this act, by pa
n9 ing to said purchaser or purchasers, assignt
- OF holder, the amount Of the purchase mon
al and twelve and one half per cent thereO
nc per annum, with all costs which may ha
'a' accrued up to the time Of such redemPtic
W SECT. IA. That this act shall not be
construed as TO impair, enlarge, or abrid
" any contract made by the hanks Of this sta
or any of them, or any debtor thereof, |
- cording to the laws affecting cOntracts,wh
existed at the time such contracts w
any made.
ldi' SBCT. IS. That this act shall take eff
ACT and be in force from and after its passag
i've JAMES WHITFIELD,
'O' Speaker Of the House Of Representa-,
=. GEO. T. SWAMI,
-, President Of the Senai
inst Approved, Feb. %. 1916:
e 10 A. G. BROWN.