The Highland weekly news. [volume] (Hillsborough [Hillsboro], Highland County, Ohio) 1853-1886, 1859-08-25

/ creditors TO present their claims.
Section s The assignee shall pro-
ceed at once TO convert al the assets re
ceived by him into money, and to sell
the real and personal property assign
ed, either for cash or upon such other
terms as the probate judge in his dis
crction may order, at public auction, at
such time and place as may be designa-
ted in notice given by advertisement In
Isome newspaper Of general circulation
within the county, for six successive
weeks, and Of which sale due rcturu
shall be made TO the Judge, but al sales
of real estate shall be made at not less
than two-thirds the appraised value
thereof being subject TO rc.oppraise.
meut as upon executions at law. ana
such sales shall be set aside or confirm
ed, as the probate judge shall order,
and if confirmed, deeds shall be made
to the purchasers, conveying the title
free from all liens on the same for debts
due by the assignor.
Section 6. The assignoo shall, with
Iinsix months after his appointment, and
sooner ifrequired by the probate Judge.
report what claims if any, against the
assignor have been presented, not mclu-
dod in the schedule filed, and what
claim, if any, he is unwilling TO allow:
land thereupOn notices Of such disal-
lowauce shall be served upon the claim
ants, as in case Of summons in a civil
action, or by advertisement as to non
residents, as allowed by the code Of
Icivil procedure in other cases; and such
claimants shall be required within thir-
Ity days after such notice, to commence
an action against said assignee, in some
court Of competent jurisdiction within
the county 10 enforce the claim: credit
ors shall present their claims within six
months after the publication of the
notice provided for In section four OF
this act to the assignee for allowance.
and the assignee shall endorse his al
lOwancc or rejection thereon, and claim
ANTS whose claims are rejected shall be
required to bring suit against the as
Islgnee to enforce such claims within
thirty days after the same shall have
been rejected, in which, if he recover.
the judgment shall be against the as.
signOr, that he allow the same in set
Element of his trusts, with or without
costs, as the court shall think right.
provided, however, that the assignor
may make any defence to such action
that the assignee might have made to a
suit instituted against him before the
assignment for the same cause Of action.
Section T. The assignee shall also,
at the same time, aud as often after
wards as may be required, report the
sums collected by including those aris-
ing from sales, together with the
amount remaining uneollectod, and the
amount thereof which in his opinion
may be thereafter collected.
Section g. If the assignee or credi-
tor shall file in the probate court a writ
ten requisiuOn on the assignee to disal-
low any claim or claims presented. which
he has not trepOrted as disall0wed and
Ishall enter into an undertaking with
Isurety or sureties TO be approved by the
probate judge, conditioned to pay all
the costs and expenses Of coutesting
the same, such claim or claims shall be
Iordered to be disallowed, and the same
proceedings shall be had as required In
other cases of disalloWauce by the fore
going section,
Section 8, The probate court shall
order the payment Of all membranes
and liens upon any Of the property sold,
or rights and credits collected out of the
proceeds thereof according to priority.
Section 10, At the expiration Of
eight months from the appointment and
qualification Of the assignee, and soon
erif itoan be done with regard to the
rights and interests Of all parties, and as
often afterwards as may be deemed pro-
per by the probate judge, a dividend
shall be declared, payable out Of the as
sets Of the assIgnors, applicable to the
payment Of non-preferred claims and
balances of claims equally amongst all
the creditors entitled in proportion to
the amounts Of their respective claims
thereon. including those disaIlowed, as
to which the claimant has begun pro
oeedings to establish the same, aB re-
Iquired in the sixth section Of this act:
Of the making Of which dividend, and
Of the time and place Of the payment
thereof, notice shall be given by adver-
tisement in a newspaper, and in such
other way as the probate judge may di-
rect Of the payment Of which diyi-
donds and those remaining uncalled for
and unpaid at that time, report shall be
made within sixty days after the day
fixed for the payment Of the same
The probate judge shall then cause a
new notice to be given to the owners of
the unpaid dividends, by publication
aud such other mode as he shall direct.
and If the same arc not demanded with
in twelve months thereafter, tho same
shall be divided pro rata amoug the
other creditors until they are paid In
full, and the remainder, If any, to the
assignor or his legal representative
The dividends reserved for claims dis.
allowed, where the proceedings to en-.
force their allowance have been com
nenced, shall DO held until said pro.
ceedings have terminated, when they
shall be paid, If the allowance Of the
claim has been ordered, upon the same;
otherwise, they shall be distributed pro
rata amongst other creditors not paid in
full, or refunded 10 the assignor, as the
case may require.
Section H. Before any dividend is
declared, the costs and expenses Of ad-
ministering the trusts Of the said as
eirumanf fnrluTfns, ra,a,5,.LI ..-.