Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1878-03-12
PARTNERSHIP.

sLcr. o. The prvi,ious Of this act shall apply
TO all cases where two or more persons are doing
business within this 2 ate ne partners, and where
either of such persons reside In this state and In
such cases the notice required by this shall be
given To all the known partners residing within the
state: Either partner may lie his petition herein
provided, which shall contain the averment that the
partnership of which be Is member Is insolvant,
and unable TO pay It's debts and that IL Is for the
best interest OF sue. partnership and its creditors
that IT. property and estate should distributed &C
cordug TO the provisions ot this act, but
hail i-sue until such notice a. the judgs directs
hearlnS 1t shall appear to the satisfaction of the
Judge that the allegations contained In the petition
are true. The schedule required 10y this act shall
contain the names Of all creditors OF the firm, and
the residences of the same, so far they shall be
known, the amount due To each with the consid.
Grafton thereof ana statement OF any existing
mortgage, pie &c, or other collateral security
given tn secure the same, d also like list of
the srediors of each individual member of the irra
Upon Issuing the warrant all the property and
estate OF the partnership and also all the separate
estate OF each individual partner eS ept such may
be by law exempt from attachment, sh IL come into
the hands and possession of tho messenger shall be
returned TO the assignee, and otherwise disposed of
a. herein before provided, and all creditors of the
ner may prove their debts In the manner provided
by this act.
creditors oi the partnership, and shall also be as
guee of the estate of each separate member of such
partnership and rhall keep separate accounts of the
funds of the estate of the partnership aud of the
tate of each member thereof. and after deducting
out of the whole amount received by him the total
expenses and dsbur ements the net proceeds of the
partnership property shall be appropriated TO pay
l. creditors of such partner, hip; and the pro.
ceed- Of the separate estate of each partner ha be
appropriated To pay his separate creditors II there
Is balance of the separate e-ti,te of partner
after the payment of his separate debts, IL shall be
added to the avals of the part ershp property, so
far necessary for the pay ment Of the partnership
debts. IL there IL balance of the partnership
sets remaining after the pas ment of the partnership
debts 10 shall be dvi cd among the separate estates
II the several partners according to their respective
rights and Interests therein, II would have been
had the pa tnership been dissolved without insolv.
ency, and the sum 40 appropriated to tue separate
estate Of each partner shall be applied to the pay.
ment Of his separate debts and In case anything re-
mains 10 shall be divided among the several partners
according 10 tteir respect We interests
SECT. %. The certificate OF discharge shall be
granted or refused to each partner as IL would
alone In all other respects the proceedings against
partners shall be conducted in the same manner As
against single person.
SECT. J6. Ia all proceedings against partners,
each shall be- eniitledto the same allowance as that
prOyd In section Orynne of this act, 20 continue
for su time the judge may direct, not exceeding
two months
SECT o. The provisions of this act shall apply 10
all corporations created 10y thu authority of the laws
OF this state. carrying ON manufacturing, trading,
mining building, Insurance or other private busi-
ness. hat not To include corporations engaged In
bu mess involving public duties and obligations,
among which railroads. banks, corporations
gagged In supplying cities and towns with gas
water, and her corporations OF like character; and
upon the petition ofany officer duly authorized by
legal vote OF such corporation passed at legal meet