The Hancock Jeffersonian. [volume] (Findlay, Ohio) 1857-1870, 1859-08-05
April 6. 1889.

No. 2li.l AN ACT
Regulating the mode Of Administering as.
signments in trust for the benefit Of cred.
itors.
Src. |, Be it enacted by the General As
sembiy Of the state OF Ohio. That when
any person snail make an assignment to q
Trustee, Of any property, money, righ's. or
credits. in trust for the beneh, Of creditors,
1t shall be the duty OF said Trustee, within
ten days after the delivery OF the sssignmt Mt
10 him. and be ore diSpNSing of any property
80 asssned, 10 appear before The Probate
Judge Of the county IN which the grantor ,e-
sid.d al the time Of executing the said as.
s,gnmeni, produce the original assignment,
or copy thereof, cause the same to be fed
IN the Probate Court. and enter into an nm
dertnk ing IN such sum, with such suretes
as shall be approved by the said Judge, CON.
iltloned for the faithful performance by the
said Trustee of his duties according TO law.
Sac. 2. IL any assignee, as aforesaid.
shall not within ten days after has nomina-
ton 10 such trust, comply wilh the provis
ions of the FRS. section Of !nis act. it shall
be the duty Of the Probate Judge. on appli.
cation OF the asslgnor or any one or more oil
his creditors. to remove the said assignee
lhereupon Immediately comply with the pro.
visions Of the foregoing section; and the
Probate Judge shall make and enforce all
necessary orders TO put the said Trustees SO
lappointed into possession OF any property
money, rights, or credits belonging TO tbs
sssgnor al the time he made said assignment
Ssc. ,. Every assignee within the pro
visions Of this act shall, within thirty day,
alter entering upon the discharge Of suci
trust, unless for good cause shown the Pro
bate Judge shall allow a longer time, die il
the Office OF the Probate Judge an inventor,
yerl hed under oath Of the property, money
nights and credlti OF the said assIgnor whlcl
| shall have come 10 his possession or know
! ledge: and the property and assets comprse'
in lhe inventory shall be appraised by thre
suitable, dIsiuterested persons. who shall b
appointed by the Probate Judge and swor
to a faithful discharge Of their trust, and
sny part OF such estate or effects be IN an
other county, any d'sintsIested Justice c
! such county may appoint the appraisers {
the estate and effects therein.
s SEC. 4. Every assignee shall also, at III
l. same time when he files said inventory hl
y q schedule verified under oath OF all deb,
and liabilities Of the assignor, within b
knowledge, and shall cause notice TO
? given in some newspaper of general circl
- laton within the county, for three success
i've weeks Of his appo ntment as assignee
!. aud requiring creditors to present the
claims.
Sac. 6. The assignee shall proceed
once TO convert all the assets received
HIM into money, and 10 sell the real al
personal property assigned, either for ca
or upon such other terms ss the Proba
Judge in his discretion may order, at pnbl
~ auction, at such time and place as may
designated in notice given by advertiseme
in some newspaper Of general circulat
of within the county, for six successive week
and Of which sale due return shall be ma
to the Judge. but all sales Of real estate shl
be made al not less than two-thirds the a
praised value thereof, being snbject to
appIaisement as upon executions at la
and sunh sales shall De set aside or con FIR
L. ed as the Probate Judge shall order, and
confirmed, deeds shall be made to the p,
!, chasers, conveying the title free from
lines on the same Tor debts due by the
- signor.
~ SEC. 6. The assignee shall, within ,
months after his appointment, and sooner
Required BY the Probate Judge. report wi
N claims, IL any, ssainst the sssignor hl
been presented, not included in the &C ched,
Y sled, and what claim, IL any, he 10 un "
ling 10 allows and thsreupon, notices
such disallowsnce shall BE- served upon /
claimants, a. in csss ola summons in ci
sction, or By sdvsrtissmsst a. TO non-re