Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1878-03-07

II II
the assignee shall elect not to appear and prosecute
such suit If it shall appear to the court that it
commenced good faith for the benefit of all the
creditors, he shall order the said costs, and cX-
penss incurred prior to the assignment OF the
estate to the assignee to he Pad out OF the estate
SEC. %. The assignee shall sci! and dispose of
all the property and estate coming to his hands,
and upon petition the Judge may make such order
concerning the sale or disposition of the nsOlvent
estate he may deem proper, and any assignee
shall have power to maintain IN his own name all
suits at law and in equity, for the recovery and
preservation of the in>olvcnt estate, and Tor the
recovery of all dues and claims belonging thereto,
whether the same arose prior to the commencement
Of.proceedings in insolvency, or arise under the
provisions OF this act and shall he admitted to
prosecute and defend all suits relating To said es
tate, and may with the consent of the Judge settle
any demand controversy by compromise or arb
tration and sell and assign all uucollectcd or dis
puted claims, and the purchaser may commence or
prosecute n suit thereon in his own name and the
assignee shall not be liable for any costs thereon.
SEC. 30. Whenever upon petition OF The assignee
appears that the title to any portion OF the estate
which has come to his possession Is IN dispute the
judge may, after such notice to the claimant, his
agent or attorney, as the Judge shall deem reason
able order the sale thereof in such manner us the
Judge shall direct and the assignee shall hold the
funds received therefor in place OF the estate so
sold and the proceeds of the sale shall he consid
cred the measure of the value of the property in
any SUIT between the parties IN any court But tins
provision shall not prevent the recovery OF the
property from the possession OF the assignee ny an
action Of rep'cvin commenced at any time before
the judge orders the sale.
SEC "a. The assignee shall deposit in his name,
as assignee, in such bank as the judge shall APP
prove, all money coming to his hands belonging To
the insolvent estate, and shall account for all IN
terest received thereon.
SEC 30. Whenever assignee shall receive
from the estate assets available to pay dividend
equal to twenty-five per cent of the debts proved,
exclusive of expenses, he shall declare and pay
such dividend ana render an account thereof to
the judge. In all eases of contingent or disputed
claiHs the assignee may reserve AN amount equal
to the dividend which would be due upon such
claim iis'nally allowed, unless otherwise ordered
by the judge II such disputed or contingent claim
shall lie hually allowed, such reserved amount
shall be paid to the owner Of such claim, otherwise
it shall I've accounted Tor when the final diStribu-
ton OF the estate is made. And for each twenty
five per cent. of assets received like dividend
shall he made. A final dividend shall he made at
such time a. the judge shall direct and when the
same is made, the assignee shall exhibit an account
OF the full settlement and disposition of the estate
coming to his hands, and of the fees and expenses
arising thereiron, which shall be examined 10y the
judge, and If found correct, shall be by him APP
proved, and thereupon the assignee shall be dis
charged from his trust
SEC. 30 In making dividend under the pre-
cedng section the following claims shall first be
paid in full in their order:
First The fees costs and expenses of suits and
proceedings in insolvency under this act.
Second All debts and taxes due to the state and
the United States.
Third. Wages due to any operative, clerk, or
house servant, to an amount not exceeding fifty
dollars, for labor performed within six menths
next preceding the issuing of the warrant.
SEC. 81. An assignee may, with the consent of
the Judge resign his trust and he discharged there
from, and from any personal Liability, provided he
has acted in good faith. Vacancies, caused by
death or otherwise, in the office of assignee, may
be hlled by appointment of the Judge, or, at his
discretion, by an election at meeting called for
the purpose by such notice to all known creditors,
the judge shall direct; and such assignee shall
receive certificate Of his election appointment,
under the hand Of the judge, and shall give such
notice thereof as the judge shall direct, and he
shall succeed to all the rights of property, powers
and duties OF the assignee in whose place he is
elected or appointed.
SEC. 3s. The debtor shall at all times before the
granting Of his certificate upon reasonable notice,
attend ard submit to an examination, on OATH be-
fore the judge or some person appointed by him to
take such examination, upon all matters relating
his insolvency, and upon application Of any party
interested the judge may in like manner order the
examination of any other person upon any matters
concerning the insolvent estate, which examination
shall he reduced to writing and signed by the per-
examined, and placed upon the files of the court.
SEC. 80. The judge shall appoint second meet
in of the creditors to be held at such place he
may designate not more than three months after
the date of the warrant, the debtor may then
amend and correct his schedule of creditors, and
shall take and subscribe an oath before the judge
in substance follows:
l. do swear that the account ofmy cred
tors contained in the schedule made and signed by