The Jeffersonian Democrat. [volume] (Chardon, Ohio) 1854-1865, 1859-07-29

trust, unless for good cause shown the pro
bate judge shall allow a longer time file ir
tho office Of the probate judge an inventory
verified under oath Of the property, money
rights and credits of tho said assignor which
shall havo como to his possession or knowl-
edge; and tho property a0d assets compris-
cd in tho inventory shall be appraised BY
three suitable. dsinterosted persons, who
shnll bc appointed by the probate Judge and
sworn toa faithful discharge of their trust
and If any part of such estate or effects be,
in any othor county, any disinterested JUS
tice Of such county may appoint appraisers
Of the estate and effects therein.
SIC. {. Every assignee shall also, at the
same time when no lilos said Inventory file
a schedule verified under oath of all debts
and liabilities of tho assignor, within his
knowledge, and shalt cause notice to be
givou in somo newspaper Of general circula-
tion within tho county for three successive
wcoks Of his appointment as assignee, and
requiring creditors to present thuir claims.
Sac 8. Tho assignee shall proceed at
Onco to convert all the assets received by
him into money, and to sell tho roa and
personal property assigned. either for cash,
or upon such other terms as tho probate
judge in his discretion may order. at public
auction, at such time and place as may be
I designated in notice given by advertisement
in somo newspaper of general circulation.
within the county, for six successive weeks,
and of which sale due return shall be mado
20 the Judge but all sales of real estate shall
be made at not less than two-thirds tho ap-
praised value thereof, being subject to re-
appraisomeut as upon executions at law and
such sales shall be sot aside or confirmed ,as
tho probate Judge shall order, and if confirm
cd, deeds shall be made to tho purchasers
conveying the title free from all lines on
the same for dobts due by the assignor.
/ SIC. 6. The assignee shall within six
months after his appointment, aud sooner
if required by the probate judge, report what
claims, If any,ngainst tho assignOr have been
! presented mot included in the schedule filed
and what claim, if any, he is unwilling to
allow and thereupon, notices of such dis
allowance shall be served upon tho claim
ants, as in case of a summons in Civil ac
tion,or by advertisement as to non-residents
as allowed by tho codo Of civil procedure in
other cases : and such claimants shall be
required within thirty days after such no.
! tico. to commence an action Gganst said as
signec, in some court Of competent jurisdc
| ton within she county, to enforce the claim,
creditors shall present their claims within
tcc provided for in section four of this act
to the assignee Cor allowance, and the as.
signee shall endorse his allowance or reiec.
ton thereon, and claimants whose claims
arc rejected shall be required to bring suit
against the assignee to enforce such claims
within thirty days after tho same shall have
been rejected. in which if ho recover, the
Judgment shall be against the assignor, that
he allow the same in settlement 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 ass signeo might have made to a suit in
s!tuted against him before the assignment
! for the same cause of action.
/ SEC. I. The assignee shall also at tho
same timo, and as often afterwards as may
be required, report the sums collected by
| including those arising from sales, together
with the amount remaining uncOllccted and
| tho amount thereof which in his opinion
may be thereafter collected.
| SEC. 8. If tho assignee or creditor shall
/ flo in tho probate court written requsi-
| ton on tho assignee to disallow any claim
or claims presented, which he has not re.
! ported as disalowed, and shall enter into an
! undertaking with surety or suroties to bo
! approved by the probate judge. conditioned
to pay all the costs and expenses of contest
ing the same, such claim or claims shall be
ordered to be Gisalowed and tho samo pro-
ccedings shall be had as required in other
cases OF disalowance by the foregoing sec.
ton.
SEC. 9. The probate court shall order
tho payment of all membranes and liens
upon any of the property sold, or rights
aLd credits collected out of tho proceeds
1 thereof, according to priority.
| SEC. 10. At tho expiration of eight
months from tho appointment and quai-
cation of tho assignee, and sooner if it can
be done with regard to the rights and inter-
csts of all partics,an as often afterwards Rs
may be deemed proper by the probate Judge,
a dividend shall bo declared payable out of
the assets of the assignors. applicable to the
payment of non-proferred claims and balan-
ccs OF claims equally amongst all the crodi-
tors entitled in proportion to the amounts
of their respective claims thereon, including
those disalowed as to which tho claimant
/ has begun proceedings 10 establish the same,
as required in the sixth section of this act /;
of tho making of which dividend, and of the
( time aud place Of payment thereof, notice
shall be given by advertisement III news
paper, aud in such other way as the probate
Judge may direct: OF tho payment of which
and unpaid at that time, report shall be
mado within sixty days after the day fixed
for tho payment of tho same. The probate
judgo shall then cause u new notice to be
I given to the owners of the unpaid dividends
! by publication and such other mode as he
shall direct and if the Same arc not de-
mandod within twolve months thereafter, the
same shall be divided pro rata among the
other creditors until they are paid in full,
and the remainder, if any, TO the assignor
! or his legal representatives. The dividends
rosorYed for claims disallowed, where the
proceedings to enforce their allowance have
! been commenced, shall be hold until sale
proceedings have terminated, when they
| shall DO paid, if tho allowance of the claim
has been ordered, upon the same other
wise, they shall be distributed pro rata
amongst other creditors not paid in full, or
refunded 10 tho assiguor, as tho case may
require.
SEC IL. Boforo any dividend is deolar-
/, Cd the costs and expenses of administering
tho trusts of tho said assignment. including
a reasonable compensation to tho said as
signee and his counsel fees and other ex-
penses, as may be allowed by the probate
, iudpo. shall be paid out of the trust fund.
!, Src. IT, In case tho assignee or any
crejitor havo reason 20 believe, and max a
, affidavit thereof that the assiguor has not