Evening star. [volume] (Washington, D.C.) 1854-1972, 1867-03-14
THE EVENING STAR
o + II 4 4 A L.
LAWS OF THE UNITED STATES.
Passed al the Second Session of the Thir-
ty-ninth Congi ess.
fPUBLIC-No. OIL

Iup'cy throughout the United States.
Icoat'nSed from yesterday's Evenino Star.1
PREFERENCES AND FRAUDULENT CONVEY
ANCKs DECLARED VOID.
SIC. j.. 4ad be az further enacted, That if any
person, being insolvent, or in Contemplation
al insolvency, within four months before the
ming OF the petition by or against him, with
view 10 give preference 20 any creditor or
person having clam against him, OF who is
under any liability for him. procures any part
OF his property 10 be attached, sequestered, or
seized on execution, or makes any payment,
pledge, assignment, transfer, or conveyance
of any part of his properly either directly or
indirectly, absolutely or conditionallv, the
person receiving snch payment. pledge,
sigBment transfer or conveyance. or to be
benefited thereby, or by such attachment,
having reasonable cause &c believe such per-
son is insolvent, and that such attachment,
IL made in fraud OF the provisions of this act
the same shall be void, and the assignee may
recover the property, or the value OF il, from
the person so receiving II, or so to bs ben
efted; and II any person being nsolvent or
in contemplation of insolvency or bankrupt.
cy, within six months before the filing of the
petition by or against him, makes any pay
ment. sale, assignment, transfer, convey
Ance, or other disposition OF any part OF
his property 10 any person who then has
solvent, or 10 be acting In contemplation of
insolvency, and that such payment sale,
sIgnment, transfer, OF other conveyance is
made with view 10 prevent his property
from coming 10 his assignee in bankruptcy. or
10 prevent the came from being distributed
H..
any way impair, hinder, impede, or delay the
operation and effect of, to evade any OF the
provisions OF this act, the sale, assignment.
transfer, or conveyance shall be void, and the
assignee may recover the property or the
value thereof, rs assets OF the bankrupt. And
II such sale, assignment. tran sfer. or convey
2nee IS not made In the usual and ordinary
course of business of the debtor, the fact shall
De prlna facie evidence OF fraud. Any con-
tract, covenant, or security made or given by
ban kruPt or other person with, or IN trust
II. ri he ms. mi nj of
any money as consideration for or with III
lent 10 induce the creditor - fOrhear ollpOStay
the apPlfestion for discharge OF the bankrupt,
sLall te Old; and II any creditor shall obtain
any sum OF money or other goods. cbatJeIs or
sec1rry from any person an inducer,eut
Iol Ioroearlns 70 oppose, or consenting 10 snGh
application Tor discharge, every creditor go
Offending shall forfeit all right TO any share or
dividend in The estate Of the ankrvpt and
shali also forfeit double the value or amount OF
such money, goods. chatiels, or security so
Obtained W DC recovered by the assignee for
re benefit of the estate
BANKGUPTCY OF PARTNERsHIPs AND OF COR
PORATIoNs.
SIC &c. And be AZ further enacted. That where
two or more persons who are partners in trade
shall be adjudged bankrupt. either on the pc
htion Of such partners, or any one of them,
on the petition of any creditor of the partners,
awarrant shall issue in the manner provided
by this act, upon which all the Joint stock and
property OF the copartnership. and also all
the separate estate. of each OF the partners,
shall be taken, excepting such parts thereof rs
are hereinbefore excepted and all the credit
tors OF the company, and the separate credi-
tors of each partner, shall be allowed to prove
their respective debts; and the assignee shall
be chosen by the creditors ofthe company, and
shall also keep separate accounts of the Joint
stock or property of the copartnership and of
the separate estate of each member thereof:
and after dedncting out OF the whole amount
received by such assignee the whole of the
expenses and disbursements, the net pro.
ceeds of the joint stock shall be appropri.
ated TO pay the creditors Of the coparrner-
Snip ana ,ne net prSeesds OF me separate es-
his separate creditors; and II there shall be
any balance Of the separate estate OF any part.
ner, after the payment of his separate debts.
such balance SD all be added TO the Joint stock
for the payment of the Joint creditors: and if
there shall be any balance of the joint stock
after payment of the joint debts. such balance
shall be divided and appropriated TO and
among the separate estates of the several part
ners, according 10 their respective right and
interest therein, and as II would have been if
the partnership had been dissolved without
any bankruptcy: and the sum so appropriated
10 the separate estate of each partner shall be
applied 10 the payment of his separate debts:
and the certificate of disc barge shall be granted
or refused 20 each partner the same would
or ought 10 be II the proceedings had been
against him alone under this act: and in all
otksrTespects the proceedings against partners
shall be conducted IN the like manner as If
they had been commenced and prosecuted
against one person alone IL such copartners
reside IN different districts, that court in
which the petition is first fled shall retain ex-
CiuSlye lurfs dlctl0n over the case.
SEC. j. And be a. further enacted. That the
provisions Of this act shall apply TO all mon
eyed business or commercial Corporations aud
loInt stock companies, and that upon the pc
uiion OF any ofiicer of any such corporation or
company, duly authorized by a vote of a ma
Jority of the corporators at any legal meeting
CALLED Tor the purpose, or upon the petition OF
any creditor or creditors of such corporation
or company, made and presented In the man
ner hereinafter provided in respect TO debtors
the like proceedings shall be had and taken as
are hereinafter provided in the case Of debtors;
and all the provisions Of this act which apply
TO the debtor, or set forth his duties III regard
10 furnishing schedules. and inventories. ex-
eeunng papers submitting TO examinations.
disclosing, making over, secrering, concealing,
conveying, assigning, or paying away his
money or property, shall in like manner, and
with like force, effect. and penalties. apply TO
each and every ofiieer of such corpol afion or
company in relation 10 the same matters con.
corning the corporation or company, and the
convey ances, and assignments declared fraud.
ulent and veid by this act when made by 8
debtor, shall In Ike manner, and TO the like
and void when made BIZ q corporation or com
paDy- No allowance or discharge shall be
granted 10 any corporation or joint stock COM
hereof Ppora TSa, %nenev e az spr m sanoe
ration BY proceedings under ihls act shall be
declared bankrupt, all its property and assets
corporations i'm The manner provided IN this
act III respect 10 natural persons.
OF DATES AND DISPOSITIONS
SEC y. And be 4! further enacted, That the
nIlIng OF a petition Tor adjudication in banx.
ruptcy, either by a debtor In his own behalf,
or bv any creditor against a debtor. upon
which an order may be issued by the court, or
by register IN the manner provided in sec
uon Tour, shall BE deemed and taken 10 be the
commencement OF proceedings in bankruptcy
under this act the proceedings in all cases oil
bankruptcy shall bs deemed matters OF record,
but The same shall not be required TO be- re-
corded al large, but shall be carefully fled
kept, and mum bered In the Off &C OF the clerk OF
the court, and a docket only, or short memo.
raDdum thereof. kept in books 10 ba provided
for that purpose, which shall De open 10 pub.
lie inspection Copies of such records, duly
certified under the seal of the court. snail in
all cases be prima facIe evidence OF the fact-
therein stated Evidence or examination iu
any of the proceedings under this act may be
taken before. the court, or a register in ban x
ruptcy, viva voce or IL writing before a Com,
missioner OF the CIrcuu Court or by affidavit
or on commission, and the court may direct
reference 10 register in ban ptcy, or other
suitable person. 20 take and certify such ex
animation, and may com pei the atten dance q