Holmes County Republican. [volume] (Millersburg, Holmes County, Ohio) 1856-1865, 1859-07-21
LAWS OF OHIO:
AN ACT
Regulating the Mode of Administering Assign
ments IN Trust for the Benefit Of Creditors
Punished bv Authority.

ments in Trust for the Beneiit OF oreoiio's'
Spcr,ox , n, R,aenaefed By the General Assela'
Hy Of Ae Sate Of Ohio, That when any person
sbaIl make an assignment to trustee, OF any
nronerty. money, nights or credits. IN trust ioi
H. ha5ef;t of creditors, it shall be the duty
ae .sid trustee. within ten days after the
delivery of the assignment to him, and be-
fore disposing of any property, 50 assign
ed. to appear before the probate Judge oil the
county In which the grantor resided at the time
of executing the said assignment, produce the
original assignment, or copy thereof, cause the
the same to be filed in the probate court, and
enter into an undertaking in such sum, with
sureties as shall be approved by the said judge,
copditioned for the faithful performance by the
said trustee of his duties according to law.
Sec g If any assignee as aforesaid shall not,
within ten days after his nomination to such
trust, comply with the provisions Of the first
section of this act ii shall be the duty of the pro-
bate Judge, on application of the assignor or any
one or more Of his creditors, TO remove
the said assignee and appoint another In
his stead, who shall thercupon Immediately COM
ply with the provisions OF the foregoing section;
and the probate judge shall make and enforce all
necessary orders to put the said trustees so ap-
poined. into possession Of any property, money,
rights, or credits belonging to the assignor at the
time he made said assignment.
Sec. 8. Every assignee within the provisions
of this act shall, within thirty days after enter
ing upon the discharge of such trust, unless for
good cause shown the probate judge shall allow
a longer time, file in the Office of the probate
Judge an inventory verified under oath of the
property, mouey, rights and credits OF the said
assignor which shall have come to his possession
or knowledge; and the property and assets COM
prised in the inventory shsll be appraised py
three auitable, disinterested persons, who shall
be appointed by the probate judge and sworn
to faithful discharge of their trust, and If any
part of such estate or effects be in any other
county, any disinterested Justice of such county
may appoint the appraisers OF the estate and ef-
fects therein.
Sec. 4. Every assignee shall also, at the same
time when he files said inventory file schedule
verified under oath of all debts and Liabilities OF
the assignor, within his knowledge, and shall
cause notice to be gwen in some newspaper OF
general circulation within the county. ior three
successive weeks of his appointment as assignee,
and recurring creditors to present their claims.
See s. The assignee shall proceed at once to
convert all the assets received by him into mo-
pey and to sell the real and personal property as
signed, either for cash, or upon such other terms
us the'probate Judge in his discretion may order,
at public auction at such time and place as may
be designated in notice given by advertisement
in some newspaper Of general circulation within
the county, for SIX successive weeks, and OF
which sale due return shall be made to the
Judge but al, sales ofreal estate shall be made
at not less than two-thirds the appraised value
thereof, being subject to re-appraisemeRt as up
on executions at law, and such sales shall be set
aside or confirmed as the probate judge shall or
der, and if confirmed, deeds shall be made TO
the purchasers, conveying the title Tree from all
Liens on the same, for debts due by the asslgnor.
Sec. 6. The assignee shall within six months
after his appointment, and sooner il required by
the probate judge, report what claims, 1t any,
against the assignor have been presented, not
included in the schedule filed, and what claim,
If any, he is unwilling TO allow; and thereupon,
notices of such disallowance shall be served up
on the claimants, as in case of a summons In
civil action, or by advertisement as to non-resi-
dents, as allowed by tho code of civil procedure
in other eases; and such claimants shall be re-
ouired within thirty days after such notice, TO
commence an action against said assignee, in
some court of competent jurisdiction within the
county, to enforce the claim. creditors shall pre-
sent their claims within six months after the
publication of the notice provided for in section
four ofthis act to the assignee for allowance and
theassiepee shall endorse his allowance or re-
lection thereon, and claimants whose ciaims are
rejected shall be required to bring suit against
the assignee 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 assignor, that he allow the same ID
settlement of his trusts, with or without costs
as the court shall think right; provided howev-
er, that the assignor may make any defence to
such action that the assignee might have made
to a suit instituted against him before the as
signmeat for the same cause of action.
Sec. Z. The assignee shall also at the same
time. and as often afterwards as NAV be requ1r-
ed. renort tbe sums collected by including those
arising from sales. together with the amount re-
n,a;pipo uncollaeted and the amount. thereof
Which ;n his on;n;on NAV be thereafter collect
cd
If.l ,,,l;,or st.n f1o
ST. o. - 'ne y, on ,h,
a.s;nnaa y, ds.lIor, an1 el.;r, or claims nre-
assignee 70 dlsaiiow any Chilli 9r ciainln PleI
sehtea, Mhish ne has hoI lePor1eu as uisLiloMeu
aAo snan en'1i in'o an L. ~ So.
VI ss.e'leS " oe " .lie Pioo.'e
eohuiuoheu W pay an 1ite sosls anu 1A
eoh.esAs .ne saine' Suen ei'iin VI ei'i'''' on"ii
oe 1uele1 " ue Gus anu .ne plo
eeeulHHs en.i og n4.d ''s Gu IA Glei eA'e'
VI Sisaiio "srse T, y the io Iii Al,
oee :. ine Plo1a'e ooui' sii.n, I:' VIZ. .ne
ps. inen. VI a., 1I ,nu
oi 'he PfoPe,ty soiu' or anu eu's Soiee.-
gu oue Vi 'ne P'oeeeus 'neie0i' ''e'OiuiNs "
priority.
Sec. I0. AT the expiration OF eight months
from the appointment and qualItcstion OF the |
assignee, and sooner II 1t can be done with re,
gard to the rights and interest OF all parties and
as often afterwards as may be deemed proper
by the probate Judge, dividend shall be deelar-
ed payable out of the assets OF the assignors, ap
plieable to the payment OF the n-preierred
claims and balances OF claims equally amongst
all the creditors entitled In proportion TO the
amounts Of their respective claims thereon, in
cluding those disaliowed as to which the claim
ant has begun proceedings TO establish the same