Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1859-05-26

upon the discharge of such trust unless for good
cause shown the probate Judge shall allow a long
er time, file in the office Of the probate Judge an
inventory verified under oath of the property,
money, rights and credits of the said assignor
which shall have come to his possession or knowl
ege: end the property and assets comprised in the
inventory shall be appraised by three suitable dis
interested persons. who shall be appointed by the
probate Judge and sworn TO a faithful dischar ge
of their trust and it any part ofsuch estate or ef
tecis be IN any other county. any disinterested
justice OF such county may appoint the appraisers
OF the estate and effects therein
Sec. a. Every assignee shall also at the same
time when he files said inventory file a schedule
verified under oath of all debts and liabi,les O.
the assignor, within his knowledge, and shall
cause notice 10 be given in some newspaper in
general circulation within the county, for three
successive weeks ct his appointment as assignee.
and requiring creditors to present their claims
Sec. S. The assignee shall proceed at once to
convert all the assets received by him into money
and to sell the real and personal property assigned
either for cash, or upon such orther terms the
probate Judge in his discretion may order 1T pub
lie auct H. such time and place as NAV be desig-
mated in notice given bv advertisement in some |
Newspapers general circulation within the COUP
ty for six successive weeks, and OF which sale due
return sha be made TO the Judge, hut all sales of
real estate shall be made at less than two thirds
the appraised value thereof. being subject to re-
appraisemen as upon executions at law and such |
sales shall be SET aside confirmed as the probate
Judge shall order and il confirmed. deeds shall be
made 10 the purchasers, conveying the title free
from all liens on the for debts due BY the as
signor.
Sec g. The assignee shall within siz months
after his appointment. and sooner frequred by the
PROBATE Judge, report what claims, any against
the assignor have been presented not included in
the schedule filed and what claim il any, he is
unwilling to allow; and thereupon notices of such
disallowance shall be served upon the claimants
in OF a summons in civil actio =, or by ad
verlisement as to non-residents, allowed by the
code of civil procedure III other cases; and such
claimants shall be required within thirty days
after such notice. TO commence an action against
81 id assignee, In come court ot competent Jursdlc
tiOn within the county, 10 euorce the claim, cred
tors shs II present their cl1irhs within six mouths
after the publication OF the notice provided to- in
section four of this to the assignee tor nj low
ance and the ignee shall endorse his allowance
or rejection thereon an! claimants whose claims
are re ected shall be required bring suit against
the assignee 10 en- iorce such claims within thirty
| davs fter the same shall have been rejected in
which if he recover. the Judgment shall be against
the assgnor. that he low the same in settlement
of his trusts, with without costs as the court
| shall think right; provided. however. that he
| sipnor NAV make any defence to such action that
| the assignee mi ht have made TO suit instituted
against him before the assignment for the same
cause of action.
Sec. e. The assignee shall also at the same
| time and as often afterwards as may be required,
| report tQe SuHlS Nv tnOSS
ing from sales, together with the amount remain
| ing uncolected, and the amount thereof which in
| his opinion may be thereafter collected.
| Sec s. II the assignee or credi tor shall file in
the pr rebate court a written requision on the as
| sianee to aisaow any claim or claims presented.
which he has not reported as dsallowed, and shall
enter into an undertaking with surety or sureties
10 be approved by the probate Judge, conditioned
TO pay all the costs and expenses of sting the
same such claim or claims shall he ordered tU bo
| llouad and the m eadi shall he h ad
as required in other cases of disallowance by the
| foregoing section.
Sec g. The probate court shall order the pay
ment of all membranes and liens upon any OF
the property sold. rights and credits collected
out of the proceeds thereof according TO priority
/ Sec 10. At the expiration of eight months
from the appointment and qualification of the as
4 signee and sooner IT II can be done with regard
10 the rights and interests Of all parties. and as
/ often afterwards as may be deemed proper by the
probate Judge, a dividend shall be declared pay
able out of the assets of the assgnors Applicable
10 the payment of nor preferred clnims and bal
ances Of claims equally amongst all the creditors
entitled in proportion TO the amounts OF their re.
spec tive claims thereon, including those disaow-
ed 10 which the claimant has begun proceedings 10
establish the same, required in the sixth section
of this act; of the making OF which dividend, and
! of the time and pace OF payment rhsreof notice
shall be given by advertisement in a newspaper
and in such other way as the probate Judge may
direct; of the payment Of which dividends and
those rema iningi uncailed for and unpaid at tina
time. report shall be made within sixty DAYS aiter
the day fixed for tfe payment of the s1ms The
probate Judge shall then cause a new notice 10 be
3 given 10 the owners OF the unpaid dividends, By
publication and such other mode he shall direct
and if the same are not demanded within twelve
r months thereafter the same shall be divid ID prt
, rata among the other creditors until they are paiC
in full. and The remainder, if any, to the assigno
or his legal representatives The dividends re
E served for claims disallowed, where the proceed
RI ings 10 en- force their allowance hive been com
menced, sail be held until said proceedings hav,
terminated when they shall 20 raid if the allow
ance OF the claim has been ordered up1n 4 same
, otherwise, they shall be distributed pro rat;
amongst other creditors not paid in full. refund
! ed TO the assignor, as the case may require.
2 Sec. IL Before any DIVIDEND is declared, th
costs and expenses OF administering the trusts .
the So id assignment, including reasonable com
pensatipn 10 the said assignee and his counsel fol
fees and other expenses. rs may BE- allowed by the
probate Judge, shall be paid out of the trust fund
. See. IL. In cas-. the assignee or anv cre1it0,
., have 10 believe, and make affidavit thar oil
that the nssignor has not surrendered all the pro
perty and effects embraced in the assignment; o
that he has property or effects which he concea /
r and re fuses TO apply to the payment OF his d-bts
or that he has conveyed or assigned any property
or effects for the purpose OF hindering, delaying D
j defrauding his creditors, that he is rbout TO dc
I so; or that he has converted any property and eli
fects into moneys mad credits for the purpose o
putting them beyond the reach of his CT ditors o
/ the Jurisdiction of the courts of the county, or
about so to do the pr bate Judge shall cause hin
TO appear in open court or beor a referee and an
swer under oath all Interrogatories concernins
, the same; ard may make all necessary orders up
on proper parties oprevent further transfers AM
changes in any property and effects which he think
S belong 10 the debtor and should be applied to th
U payment of his debts; but such order shall hav,
the effect TO alter the title or possession of an,
{ property or effects claimed or possessed by any
q third person.
claim against the estate OF the debtor and beor,
the same shall be allowed or anv payments ma a,
thereon shall make and le by affidavit setting fotl
{ that the said claim is just and lawful what col
lateral or personal security, il any. the cldiman
holds for the same. or that he has no security
e whatever and the assignee any creditor shal
have the right to examine the claimant under oat.
: touching any such collateral or other security. O
S any other matter relating TO said clam. within
such time and under such regulations as shall b,
prescribed BY the probate Judge.
!, Sec. IA. The probate Judge sha Il have the righ
, at anv time remove any assignee for good causs
and to appoint another in his stead, and to max,
and enforce all orders necessary to cause the pro
perty and effects to he delivered TO The new trustee
and TO require new undertakings with addi,iona
suretes. and an application made by anv surety Of
suretes Of any assignee may. if satisfied of tn,
Trusunubcuoero of such ~pri;~-.;, i~> i-.-y~ ess4
surety or sureties from further liability, and re
quire that said trustee shall be removed or give
new sureties.
Y Sec. IS Nothing in this ac; shall be 30 c,n
strued as TO require any property exempt from ex
ecution 10 be delivered up for paymen: of debts o
to authorize any prnoerty belonging the wife be
fore marriage and not converted to THE husbandi
use. 10 be taken in payment of the debts of he
husband.
Sec. l6. Ali assignments in trust 20 trustes
, or trustees, made in contemplation of insolvency
with the inten, to prefer one mose creditors