Mississippi Democrat. (Carrollton, Miss.) 1844-18??, 1846-03-11

49, ~ 'os q ~
AN ACT 10 amend 10 act entitled an act 1 .
prescribe the mole Of proceeding against IN
eorporstcd banks ibr q violation Of theis cor
porase franchises. and against persons pre-.
tending 10 exsrcie corporate privileges under
acts Of Incorporation, and for other purposes.
approved July 2e, 1919.
SECTION /. BE il enacted By HE Legis-
lature Of The State Of Mississippi, That
The trustees appointed, or 70 be appointed
under the provisions of the act 10 which
this is an amendment, shall, before enter
ing upon their duties, execute bond with
security 10 he approved BY The said court.
payable 10 the Governor Of the State, con.
diiioned for The faithful performance Of ihe
duties eDjoned upon them by this acl, and
the act 10 which this is an amendment.
SEC. 2, BE il further enacted, That it
shall be The duty Of all persons having
possession Of any property or evidences ii
debt Of any corporation against which
Judgment Of forfeiture shall be rendered,
upon demand being made upon them by
the trustee or trustees, to surrender forth
with 10 such trustee or trustees, all such
properly and evidence Of debt and upon
failure so 10 surrender. such persons shall
be deemed guilty Of contempt Of said
court and punishable as in other cases Of
contempt.
SEc. 8. Be IL further enacted, That on
or before the first day Of the term Of the
court next succeeding their appointment It
shall be the duty Of said trustee or trustees
to return to said court, under oath, full
inventory of all the property and eviden-
ces Of debt which have come into their
possession, and said inventory shall be res
corded by the clerk.
SEC. A. BE ii further enacted, That when
The inventory is returned as aforesaid, The
trustee shall proceed TO sell, under The or
der Of said court, to the highest bidder for
cash, all the property and evidences Of
debt, specified and set forth in said inyen-
tory the real estate shall be sold before
the court house door Of the county where
said real estate is situated; The personal
estate before the court house in the county
where the bank was situated and the bills
receivable, notes, judgments, DEGREES, and
other evidences Of debt, secured in whole
OF in part by mortgages on land, shall be
sold before the court house in the county
where said lands are situated; and other
bonds, bills, notes, judgments, DEGREES, and
other evidences of debt, shall be sold in
the counties where the principal debtor or
| debtors live, or their executors or admin
istrators reside and il the principal debt
or or debtors be nonresident, the sale
shall be in the county where the security
or securities reside, at The courthouse, as
in other cases as aforesaid said trustee
shall give ninety days notice Of the time
and place of such sale, under this act;
notice shall be posted up in two public pa-
ces in the county in which such sale is 10
take place, and one in public newspaper
printed in this State. Said trustee shall
renderan account of said sale, under Oath,
in like manneras his inventory.
SEC. s. BE ii further enacted, Thatit
shall not be lawful for any trustee to be-
come either directly or indirectly pur-
o,'" =. ~ no w" sa.e' ~ ~ ~. ! T." ~,
Us we asons u ieP.ose,.'ansv !, r., ~
cnaso'' anu an purchases - s'o'a''o" !
''iis sec,,oh 5 s''a,' ~ so'u' .. rna. !,
olo' y De I asser eaa.'se' es III, =
,ne 'ei,n :, Mn''n Juosnv,' !. ao'1 ILL.,
70 reuueieu' NY .ou.. sna'' aPpo;as III" a.,,h
commissioners - auu. 49,, II ~ aas',
co,Po'a''o' mnoso ~ III. III" ~ ~, ~ -
snch cornora,ion - present Them q : said
commissioners or allowance and said
commissioners shall audit and allow all
ne bonds. lila. notes. post-notes. and cer.
/, ,;Gcates of denosi,e which have been iss,l.