Pomeroy weekly telegraph. [volume] (Pomeroy, Meigs County, Ohio) 1860-1866, 1860-05-29
No. 1857 AN ACT

To amend sections five and SIX OF ''an
act regulating the mode of administer
ing assignments in trust for the bene
fit of creditors" passed April 6, 1859.
SECTION L. Be 1t enacted By the Gen.
eral assembly of the State Of Ohio, That
section five of said act be amended so as
to read as follows: Section 5. The as
signee 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 other terms as 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 four successive weeks, and of which
sale due return shall be made to the
Judge; but all sales Of real estate shall
be made at not less than two-thirds the
appraised value thereof, being subject to
re-appraisement as upon executions at
law, and such sale shall be set aside or
confirmed as the Probate Judge shall
order, and if confirmed, deeds shall be
made to the purchasers, conveying the
title free from all liens on the same for
all debts due the Assignor. Whenever
the Probate Judge shall be satisfied that
it would be for the advantage of the
creditors of the Assignor to sellany part
of the real or personal property assigned,
at private sale, such Judge may author
ize the Assignee to thus sell the same,
either for cash, or upon such other terms
as the Probate Judge in his discretion
may order; but such property shall in
no case be sold for less than two-thirds
its appraised value, nor shall such As
signee become the purchaser thereof,
and a return of such sale shall be made
within the time prescribed by the Pro-
bate Judge, not to extend beyond six
months, and such sale shall be confirmed
by the Probate Judge before the same
shall be completed and binding, and if
confirmed, deeds shall be made of the
real estate to the purchasers, coveying
the title free from all liens on the same for
all debts due by the Assignor Should
any property thus ordered to be sold at
private sale, be not so sold within the time
prescribed by the Judge, then such
Judge shall order the same to be sold
at public auction in the same manner as
though private sale had not been Or
dered.
Seq. That section six of an act en-
titled {" an act regulating the mode of
administering assignments in trust for
the benefit of creditors, passed April 6,
1859, be amended so as to read as fol-
lows: Section g. Creditors shall present
their claims within six months after the
publication of the notice provided for in
section four of this act, to the Assignee
for allowance, and the Assignee shall
endorse his allowance or rejection there
on, and claimants whose claims are re
iected 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 Assignee, that he allow the same in
settlement of his trusts, with or without
the cost, as the court shall think right;
provided, however, CnaG Ihe assignee
may make any defense to such action
that the Assigno might have made to a
suit instituted against him before the as
signment for the same cause of action.
Sec. 3. Said original section six is
hereby repealed.
Sec. 4. This act shall take effect upon
it's passage. .
RICHARD G. PARSONS,
Speaker of the House Of Representatives
ROBERT C. KIRK,
President of the Senate
Passed March 26, 1860.