The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1860-05-23
NO. b4.7 AN ACT

mo. 54.1 AN ACT
To amend an Act entitled can Act regu-
lating the mode of administering AS
signments in trust for the benefit of
Creditors" passed April 6, 1859.
Section L. BE 1t enacted By the Gener-
al assembly Of the State Of Ohio, That
section enc of an act entitled ''an act reg
ulating the mode of administering assign
ments in trust for the benefit Of creditors"
be SO amended as to read as follows: Sec
tion l. That when any person shall make
an assignment to trustee of any proper
ty, money, rights or credits in trust for the
benefit of creditors, it shall be the duty
of said trustee, within ten days after the
delivery of the assignment to him, and be-
fore disposing of any property SO assigned,
to appear before the probate judge of the
county in which the assignor resided at
the time Of executing the said assignment,
produce the original assignment or a copy
thereof. cause the same to be filed in the
probate court, and enter into an under
taking, payable to the State of Ohio, in
such sum and with such sureties as shall
be approved by the judge, conditioned for
the faithful performance by said trustee,
of his duties according to law; on which
undertaking, any person injured by the
misconduct or neglect Of duty Of the as
signee, in regard TO said trust, may bring
an action thereon, in his own name, against
the assignee and his sureties, to recover
the amount to which he may be entitled by
reason Of the delinquency, A Judgment
in favor of Q party for one delinquency
shall not preclude the same party from an
action in the same undertaking for another
delinquency, nor shall such judgments
preclude any other party from bringing
actions on such undertaking. The pro.
bate Judge shall have the power to require
tho assignee to execute an additional un.
dsrtaking whenever the Interests Of the
creditors of the assignor demand the same,
and action may be brought thereon as
upon an original undertaking.
Sec. 2. That section one of the act to
which this ID an amendment be aAd the
Same Is hereby repealed; provided, how.
ever, that such repeal shall not affect any
undertaking heretofore executed in pur.
suance Of said section one, nor any action
founded thereon, which Is now pending.
SEQ. 8. That In oil cases Of assign.
ment Of personal property made after the
taking effect Of this act, which shall come
within the provisions Of the act to which
this is on amendment, all taxes Of every
/ description assessed against the assignor,
upon any personal property held BY him
before his assignment, shall be paid by the
assignee ont Of the proceeds Of the sale
Of the personal property assigned, in pref.
ersuce to any other claims against the as'
signor. srisss
Sec. 8. This act shall take effect on
It's passage. ihHsy p i''ws D aaifi7 ~ (
~ 'som RICHARD q. PARSONS, !
| Speaker Of the House Of Representatives
i booW > tsp ROBERT O. KIRK,
u ios.a9 President Of the Senate.
March 18, 1860. ,e'.s Z iae e e
AuDlron's OFFioE, WooDsr1ELD.
gu dta Monroe Co., May, 1860. I
I hereby certify that the foregoing lawl
have been compared with the laws pub.
ilshed by authority and found TO be cor.
rect, r,ds y MARTIN L. BOWSER
| 81 % ealgoh .a Auditor, N; O, o.