Evening star. [volume] (Washington, D.C.) 1854-1972, 1867-03-12
THE EVENING STAR.
O r y &c I A l..
LAWS OF THE UNITED STATES,
Passed at the Second Session Of the rkir-
ty-ninth Cong ess.
lPUBLIC-No. GIL

[PuBLIC-No GIL
AN ACT 10 establish unifor N system Of bank
rup'cy throughout the United States.
tCenfsnUsd from yesterdays Ereaing Star.
OF AesIoSMKNTs AND AssIeNEks.
SIC II And Be IL further enacted That At the
meeting held IN pursuance Of the notice, one
of the registers of the court shall preside, and
the messenger shall make return Of the war
rant and of his doipgs thereon: and II II ap-
pears that the notice to the creditors has not
been given as required in the warrant, the
meeting shall forth with be adjourned, and a
new notice given as required. Ii the debtor
dies after The issuing of the warrant, the pro-
ceedings may be continued and concluded in
like man ner as il he had lived.
SIC. -. And be it further enacted, That the
creditor shall, At the first meeting held after
due notice from the messenger. in presence OF
a register designated by the court, choose one
or more assignees of the estate of the debtor;
the choice to be made by the greater part in
value and In number of the creditors who
have proved their debts II no choice is made
by the creditors at said meeting. the Judge or
IL there be no opposing interest, the register,
shall appoint one or more assignees. Fan as
sigBee. so chosen or appointed, fails within
five days to express in writing his acceptance
of the trust, the Judge or register may fill the
vacancy. All elections or appointments of as.
signees SHAH De subject TO the approval Of the
Judge: and " hen IN his Judgment II Is for any
cause needful or expedent, he my appoint
additional assignees or order a new election
The Judge at any time may, and upon the re-
questlu writing OF any creditor W no has proved
his claim shall require the assignee to give
good and suf cient bond to the United States,
with condition for the faithful performance
and discharge OF his duties; the bond shall be
approved by the Judge or register by his en-.
dorsement thereon, shall be filed with the rec
ord of the case, and inure To the benefit OF all
creditors proving their CLAIMS, aud may be
prosecuted in the name and for the benefit of
any injured party. II the assignee fails TO give
the bond within such time as the Judge orders,
not exceeding ten days after notice to him of
such order, the Judge snail remove him and ap-
point another IN his place.
SIC. "a. And be az further enacted. That as
soon as said assignee IS appointed and qualI-
hed, the Judge, or where there is no opposing
interest the register, shall, by an Instrument
under his hand assign and convey to the
sgnee all the estate, real and personal, of the
bankrupt, with all his deeds, books and papers
relating thereto, and such ass gnment shall
relate back 10 the CONNIE ncemenL OF said pro-
eeedings IN bankruptcy, and thereupon, by
operation of law, the title TO all sucR property
and estate. both real and personal. shall vest
In said assignee, although the same is then
attached on mesne process as the property OF
the debtor, and shall dissolve ANY such at
tachment made within four tbs mex. IRE.
cedIng the commencement of SAID proceed
ings: PrOridsd, k0TeCer. That there shall be
excepted from the operation of the proyis-
ions of this section the necessary household
and kitchen furniture, and such other articles
and necessarIes of such bankrupt the said
assignee 81 all desIgnats and set apart, having
reference in the amount TO the family, condi-
ton, and circumstances of the bankrupt, but
altogether not 10 exceed in value, In any case,
the sum of five hGndred dollars and also the
wearing apparel of such ban krupt, and that OF
his wife and children, and the uniform, arms
and equipments of any person who is or has
been soldier in the militia or in the service
of the United States and such other property
as now Is. or hereafter shall be exempted from
attachment, or seizure, or levy on execution by
the laws of the United States, and such other
property not in cluded in the foregoing excep-
lions, as is exempted from lew and sale upon
execution or other process order of any
court by the laws OF the State in which the
hQ lkvWr hos hVa I<rn sosl.
commencement of the proceedings in bank.
ruptcy. 10 an amount not exceeding that al.
lowed by such State exemption laws in force
in the year eighteen hundred and sixty-four
Prorided, That tue foregoing exception shall
operate as a Limitation upon the conveyance Of
the property of the bankrupt TO his assignees
and in no case shall the property hereby
excepted pass to the assignees, or the ii lie Of
the bankrupt thereto be impaired affected
by any OF the provisions of this act; and the
determination of the assignee the matter
snail, on exception taken, be subject to the
final decision of the said court: And prouided
further, That no mortgage of any vessel or of
any other goods or chattels, N ade as curity
Tor any debt or debts, la good faith and for
present considerations and other wise valid
ana duly recorded, pursuant to any statute Of
the United States, or Of any State, shall be in.
validated or affected hereby; and all the pro-
perry conveyed by the bankrupt In fraud of
his creditors; all rights in equity, chooses in
action. patents ana patent rights and copy
Ilsh's all debts due him, or any person for his
use, and all liens and securities therefore: and
all his rights of action for property or estate,
real or personal, and for any cause of action
which the bankrupt had against any person
arising from contract or from the unIaw-
rul taking or detention, or of injury TO the pro.
perry of the bankrupt, and all his rights of re-
dTemlDg such property or rs tate, with the ike
right. title, power, and authority TO sell. man
age. dispose OF, sue Tor and recover or defend
the same, as the bankrupt night or could ma ye
had n no assignment had been INSIDE, shall. in
in virtue of the adjudication OF bankruptcy
and the appointment of his assignee be a. once
vested IN such assignee: and he may sue for
and recover the said estate debts and effects
and may prosecute and defend all suits at Law
or in equity, pending ~ the time of the adIu-
d cation of bankruptcy, IL. which sucn bank
manner and with the like effect as they might
have been presented or defended by lsuch
bankrupt; and copy, duly certified by the
clerk OF the court, under the seal thereof, OF
the assignment made by the judge OF Re.
Rister. as the case may be, to him as as
signee, shall be conclusive evidence Of his
title as such assignee TO take, hold, she for
and recover the property Of the bankrupt. as
hereinoefore mentioned; but no property held
by the bankrupt in trust shall pass by such
assignment No person shall be entitled TO
maintain an action against an assignee in
bankruptcy for any thing done by him as such
assignee without previously giving him
twenty days notice Of such action, specifying
the cause thereof. TO the end that such assignee
may nave an opportunity eftendering amends,
shenld he see NJ TO do SO. No person shall he
entitled, as against the assignee, TO withhold
fsSo0C<Ssoa
the bankrupt, or claim any lien thereon: aud
no suit in which the assignee is a party shall
be abated by his death or removal from Office
but he same may be prosecuted and defended
by ms successor, or by the surviving or re-
naming assignee, as the case may be- The
assignee shall have authority, under the order
and direction OF the court, TO redeem or dis
charge any mortgage or conditional contract,
or pledge or deposit, OF lien upon any property
real or personal, whenever payable, and TO
tender due performan ce of the condition IN reof
or 10 sell the same subject To such mort
gage, lien or other membranes. The
DEBTOR shall also, al the request of the as.
signee and at the expense Of the estate
make and execute any instruments, deeds and
writings which may be proper to enable the
assignee 10 possess himself fully Of ali the
assets OF the bankrupt The assignee shall
Immediately give notice of ais appointment
by publication at least once q week for IN rae
successive weeks in such newspapers as snail
Tor That purpose be designated by the court
due regard being had 10 their general circula-
ton IN the district or in that portion of the
district In which the bankrupt and his cradi.
tors snail reside, and shall. within six months
cause the assignment 70 him 10 be recorded in
every registry of deeds or other once within
the United states where CONVEYANCE ef any
lands Owned by the ban Krupt ought by law 70