The aegis & intelligencer. [volume] (Bel Air, Md.) 1864-1923, 1880-04-30
Public General Lars.
[CHAPTER 172.
INSOL VENCY.
AN ACT
AN ACT

oil the CODE OF PuDllc General Laws, title
"Insolvents," and to re-enact the same with
amendments and also to add certain new
sections to said article.
Section l. Be it enacted by the General AS
sembly of Maryland, That section one, two,
three twelve, thirteen, fourteen, sixteen, seven
teen and eighteen of article forty-eight, of the
Code of Public General Laws, title "Issol
vents" be, and the same arc hereby repealed.
and re-enacted with an condiments, SO as TO read
as follows:
Any person being insolvent may apply by petit
ton 10 the Circuit Court for the county where
such insolvent resides, or to the Court of
Common Pleas of Baltimore city, if the in
solvent resides i'll the City of Baltimore, stat
ing that he is insovent, and Offering to deliver
up for the benefit of his creditors all his prop
erty, real and personal, and exhibiting there
with schedule of his property, and
list of the debts due from and owing to him,
with the names of his debtors and creditors,
and their respective places of business or
residence, 30 far as known TO the insoIvent, all
verified by affidavit, and shall annex 10 his
petition an affidavit that he will deliver up
and convey to such trustee as may be APP
pointed for the benefit of his creditors all the
property, estate, rights and claims of every
description, to which he is in any manner en-
titled, the necessary wearing apparel and
bedding of himself and family, and such prop
erty as may by law be exempted from execu.
ton, excepted; and that he has not at any
time sold, lessened transferred or disposed of
any part of his money or other property for
the use or benefit of any person, or intrusted
any part OF his money or other property. debts,
rights or claims thereby intending 10 delay
or deiraud his creditors, or any of them, or to
To 81,
receive, any profit, benefit or adv antage him
self therefrom; provided, that the said appli-
cation has at no time, within said appli
cation, been discharged under any insolvent
law of this State.
2. The Court, or one of the Judges thereof
shall then appoint preliminary trustee, who
shall give bond to the State with surety or
sureties, to be approved by the Judges or
Clerk OF said Court, in such penalty as the
Court or one of the } Judges thereof NAV pre-
scribe, for the faithful discharge of his trust,
and the nsolvent shall Immediately convey to
such trustee all his property and estate of
every desert ption; and upon the approval OF
such bond, whether such conveyance has been
made or not, all the property OF every des.
cripion, rights and claims of the nsolyent. as
well as such as are enumerated and described
in his schedule, as also all other property,
rights and claims not so enumerated and des-
crlbed in his schedule, shall vest in the said
trustee, with the exceptions stated in the fore
going sections; and it shall be the duty of the
said preliminary trustee Immediately TO cause
notice to lie transmitted by mail TO each of the
creditors mentioned in the schedule, addressed
to them at their respective places of abode or
OF business, SO far as mentioned in the schedule
or known TO him, giving notice 10 such credi-
tors OF the tendency OF proceedings in insolv-
ency In relation to the estate oftbe insolvent and
requiring them TO appear at place and time
to be named, not less than five nor more than
ten days hom the mailing of the notices, to
choose permanent trustee for the estate of
such lusolyent, and the place of such meeting
shall be In the county or city in which the
debtor resides; and said preliminary trustee
shall cause like notice to be given to all credi-
tors generally of the insolyent, by notice in
serted once in some newspaper in the county
OF the Debtors residence, and by two inser-
hons In some daily newspaper published in
The Clty OF Baltimore, when the debtor ia
resident oil such city; at the time and place
namea' IL shall be the duty OF the clerk or the
deputy clerk mentioned in sections six
teen and and seventeen of this article,
and OF the debtor, and the preliminary
trustee to appear, and the said clerk or
.
thereupon the creditors present having proven
their claims in accordance with the rules to
be prescribed by the Court, as hereinafter pro-
vided, shall proceed TO the election of n per.
manent trustee for said estate, and the person
who shall receive the votes of the greater num-
Der of said creditors, and of those holding the
greater amount of Indebtedness, shall be
elected such permanent trustee subject, how
ever, to the approval of the Court, or one Of
the judges thereof and if the creditors fail to
attend or any person fails to obtain the requi-
site majority of number and amount of credi-
tors, as before provided, or if the person
elected be, in the opinion of the Court AN
unsuitable person to execute the duties of the
office of trustee, the Court shall appoint some
person to act as permanent trustee; and when
such person shall be elected and appointed as
aforesaid, or appointed by the Court, he shall
give bond in manner and form as hereinbefore
provided with respect to the preliminary trus-
and thereupon, Immediately upon the filing
and approval of such bond, and said estate,
property, rights and claims shall vest in such
permanent trustee and such preliminary
trustee, if he be different person from the
permanent trustee shall execute to him
deed of the same, and duly acknowl-
edge the same; and it shall be the duty Of
the debtor at such meeting to answer,
under oath, any interrogatories of the credi-
tors, or any of them, touching his property,
and the disposition of the same, his indebted
ness, the judgments and suits against him,
and as to any matter relating TO his business;
and the said clerk or deputy clerk shall adj
minister TO such debtor an oath that he will
speak the whole truth, without oncealment or
evasion, in answer to any inquiries which may
be propounded TO him at said meeting; and
said or deputy clerk may adjourn said meet
ing from time 10 time.
8. The said Court, or one of the Judges
thereof, may at any time order the insolvent
10 appear and answer such heterogeneous or
allegations as his creditors, endorsers or sure
ties may propose or allege against him, and
shall order not less than one months notice OF
the day 80 fixed upon TO be given by the per-
manent trustee TO the creditors of the insol-
vent, in such manner as the Court may by its
rules or 10y special order direct.
IL. The said Courts, or the Judges thereof
shall prescribe the penalty of the bonds Of
the trustees, and approve the security therein,
ard may order new bond or a new security
or securities to be given, and may remove any
trustee on failure in compliance or for incom-
potency or neglect of his duty, and shall have
all the powers over the trustees under this
article, which courts OF equity have over trus-
tees appointed by decree to sell property, and
the sad Courts shall by their rules provide
the method and forms for the proof of claims
against the estate of insolvents.
-. No deed or conveyance executed, or lien