Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1881-01-07
LAWS OF VERMONT.

z
to act IN case or in case the Judge dies or be-
comes lncapacitaed for executing the duties OF his
of.ce, or removes out OF the insolvency uslfct OF
resigns the register shall have the powers and per-
form the duties of the judge until such ncapacity
Removed or until another Judge Is appointed
Sec. ,. Section eight OF number one OF inc ACTS
Of ls16 Is hereby repealed. -
Sec. 4. Section lftcea OF said act Is hereps
amended 50 AS TO real a follows:
IAN inhabtaat OF tl.s SAFE owing debts ekceeu-
Ing the amount of three bIadred dollars contracted
with such mhabitaui, which he Is unable 10 pay,
may apply by petition verlhed by oath 10 me ludge
for the Insolvency district in which he resides set
ting forth hat he is such inhabtlnt and Is owing
deEts contracted while such inhabitant TO an amount
exceeding three hundred dollars. which ne IS IN
able 10 nav in full and that is willing 70 assign
his estate and effects except such as are exempt
from attachment, for the oenent Oh ms creditots,
and PRAYING that such proceedings may be had IN
the premises as are provided in this aot
Sec. s. Section seventeen oil SAID act Is herepy
amended so as 10 read as follows:
..Upon the Hing of such petition and the ding Of
the schedules of creditors and assets the Judge sha
forthwith order meeting OF the creditors OF such
petitioner and fix the time and place for holding the
same, and cause the register to forward ~ mall
prepaid, 10 each creditor named in the scheaule
notice stating the date and place OF Ming the pet
ton. and that mt citing Of the creditors Will De
held at court Of insolvency, TO be held al time
and place named in the notice. not less than Ten nor
prove debts and choose one or more assignees
Of the estate The judge shall also cause the regis
ter forthwith to give notice by advertisement IN one
or more newspapers OF general clrcuiation In sucn
district OF the Ming OF the petition, OF the time and
place OF the creditors meeting. and that the pay
ment of any debts and the delivery OF any properly
belonging 10 said debtor, to him for his USE and
the tra1sfer OF any property by him. are ioroidaen
by iawG
Sec G. No creditor whose debt provable shall,
unless the amount due such creditor is in dispute,
be allowed after the fling Of the petition TO prose-
cute 10 final Judgment a suit at law or in equity
therefor against the insolvent debtor until the
question such debtors discharge has been deter
mined and any such suit shall, on the Application
OF the debtor, unless he unreasonably delays en-
n a scharpe- be STAYED 10 await
the determination Of the court of Insolvency on the
question of discharge. II the amount due the
creditor In dispute the suit by leave OF the court
Of Insolvency may proceed TO Judgment for the
purpose of ascertaining tho amount due, winch
amount may be proved in insolvency but exccu-
lion shall be stayed
SEC. I. Section twenty-four OF said act is hereby
amended so as to read as follows:
debts due and payable from the debtor at-the
time of the fling Of the petition may be proved and
allowed against his estate a; any meeting OF me
creditors and debts existing but not payable until
future day, may be proved and allowed as II
presently PAYABLE, with discount OF interest
where no interest is payable by the contract"
Claims against the debtor for or on account OF
goods, chattels or other propertyiwrongfuly faken
withheld or converted by him may be proved and
allowed as debts to the value OF such property, with
interest.
II the debtor is bound as indorser. drawer,
security bail or gnaraGtor. upon bill, bond. note,
or other contract. or for debt OF another person.
and hls liability does not become absolute until
after the Hing Of the petition. the creditor may
prove the same after the liability becomes liked
and before lnal dividend Is declared
In case of contingent debt and contingent Ia
b,llty contracted by the debtor and not herein
otherwise provided for, the creditor may make
claim therefor and his claim may be allowed Win
the right 10 share in the dividends, If the coniIn
gency happens before the order for the nnal dil-
dend. or he may any time apply 10 the court TO
have the present value of the debtors liability
ascertaned and llqaldated. which shall be done in
such manner the court orders, under the provls-
sions OF this chapter, and he shall be allowed to
prove q debt the amount ascertained-
A person liable as bail, surety, guAranfor or
otherwise FOR the debtor who has paid the debt or
any part thereof In discharge OF the whole may
prove such debt for the amount paid. although
such payments were made amer the proceedings IN
insolvency were commenced and person so liable
fer the debtor and who has not paid the whole of
said debt but Is liable for the same or part thereof
may. If the creditor falls or omits TO prove such
debt, prove the same In the name of the creditor or
Otherwise, as is provided by the rules.
When the debtor Is liable TO pay rent or other
debt failing due stated periods the creditor may
prove for 4 pruporrionate part thereof up TO the
lime Of the Hing of the petition If the same
Increased from day 10 day, and not at stated per-
iols.
II the debtor il liable for unliquldated damages
arising on; Of contract or promise or on account
of any goods or chaltels wrongfully taken, con-
verted or withheld, the judge may assess such
damages or cause them TO be assessed as herein
after provided. and the sum assessed may he
proved sgalnst the estate.
Upou debts subject 10 the payment Of interest,
interes, shall be computed TO the date OF the Hing
No debt other than those above specified shall be
proved q. altOWtu uXhl-t Inc tsLbe.
SEC g. Section twenty-six Of said act is hereby
amended SO as 10 read as follows:
when a creditor has a mortgage or pledge ofreal
personal estate Of the debtor lien thereon for
securing the payment Of debt claimed by him, the
property so held security shall, n the assignee
creditor require IT, lie sold under the order Of court
and the .ei proceeds applied towards the payment
Of such creditors debts so secured, and he shall be
admitted as creditor for the residue If any. The
sale shall he made in such manner as the Judge
shall order and the creditor and the assignee re-
spec,Ivey shall execute the deeds and papers nee
essary aud proper for efIecting the conveyance
II the creditor SO elects he may release and deliver
up TO the assignee the premises or estate held as
security and be admitted as creditor for the whole
of his debt.
Sec O. Section thirty-two of said act is hereby
amended So as TO read as follows:
"a person claiming 10 be a creditor whose claim
Is disaiiOwed IN whole or In part 10 the amount Of
twenty dollars, or an assignee or any other credi
tor dissatisfied with the allowance OF a claim 10 the
amount OF twenty dollars or more, may appeal from
the decision making such allowance TO the county
court 4 notice thereof Is given to the register, 10
be entered with the record of the proceedings, and
also TO the assignee and creditor, within ten days
after the decision appealed from The appeal shah
be entered al the term Of the county court first held
within The county after the expiration Of u days
from the time Of Claiming such appeal. But If the
appellant IN writing valves his appeal before the
entry thereof does not enter IT, proceedings may
be had IN me court OF insolvency as no appeal
by the parry appealing as In cases OF appeal from
the probate court
Sec TO- An assignment under order OF a court
Of insolvency shall vest In tho assignee all the prop
erty Of the debtor, real and persona, which he
could have lawfully sold, assigned or conveyed,
or which might have been taken on execution upon
o judgment against him at the time OF the ding OF
the petition, aud all debts due the debtor any
person for his use, and the liens and securities
therefor, and his rights OF action for usurious inter
est or Tor goods or estate, real or personal, and
rights Of redeeming the same. And the assign
ment shall by operation Of law relate back to the
date If The ing Of the petition and shall dissolve
attachments upon mesne or trustee process or writ
Of sequestration upon the property OF the debtor.
made within sixty days next preceding the nllng of
the petition and all liens of execution when the
property levied upon has not actually been sold be-
fore the commencement of the proceedings in in
solvency and when the property leSied upon
NOT actaaly attached upon mesae process at least
sixty days before the commencement OF the pro-
ceedings IL insolvency, and the property or estate
SO attached or levied upon shall come 10 the hands
Of the assignee.
Sec. II. The assignee may, under order OF court,
redeem mortgages, conditional contracts, pledges,
Liens upon the goods or estate OF the debtor or sell
the same subject 10 such mortgage or REMEMBRANCE
The costs In all suits made before the commence
ment Of the proceedings In insolvency where al
tachments and levies are dissolved under this act,
may be proved and allowed with the debt against
the debtor,
Sec ~ A creditor who has secured his debt In
whole or IN part by attachment or levy Of execution
made or levied upon an lnsoiveu: Debtors property
more than sixty days before the filing OF the petit
ton, may be admitted to prove the debt due him;
and such debtor forth in the proof Of his debt
that he has such security, and proves to the sails
faction OF the court that such attachment levy Is
valid against the debtor assignee the property
so attached or levied upon shall be sold by the as
signee under the order OF the court, and the net
proceeds Of such sale shall be applied IN the pay
uueut Of such creilt5s debt so secured aud II the
net proceeds Of the.sale Of such property shall not
pay such debt IN fnl, such creditor shall receive
dividend On the part thereof remaining unpaid.
Sec. 49, Sections fortytwor fOriy-three and forty
four Of said act are hereby repealed
Sec. u Section hfty-seven Of said act Is hereby
amended so as 10 read As follows:
IAN assignee may, withfhe consent of the court
resign his trust and be discharged therefrOm upon
arna ofh n.
Sec. IS Section seventy OF said act Is hereby
amended so as 10 read as follows:
1.-The Judge shall appoint second meeting Of the
creditors 20 he held at a court not more than three
months after the fng of the petition. regard being
had to the distance at which the creditors reside
The debtor snail then be- allowed 10 amend and cor
rect his schedule of creditors, and shall take and
subscribe an oath before the Judge which shall be
certified by him and rled In the case In substance
Il. do swear that the account Of
my creditors contained IN the schedule made and
slgnedby me aud now on Hlein court Is In all re-
pects and true according TO the best Of my
knowledge and belief, and ] DO further sweai that
I have delivered to the assignee,
ali OF nv estate Except such parts thereof by
law exempt from attachment, and such AS have
Il necessarily expended ia the support OF myself
- ..in..,l aud all nv books of account and papers
relating u nv said estate that In nv passes
sion or power when the same demanded of
me by Tie assignee; and that If any other estate,
ellec,s or other things which shall or ought 10 he
assigned shall hereafter come 10 my knowledge or
possession will forthwith disclose or deliver the
same to hin. Aud do further swear that there Is
not any part Of ny estate of effects made over or
disposed Of In any manner for the future benet oi
myself or my family or In order 20 defrauh ms
creditors.
Sec 49, Section scveniy-one Of said act Is here
by so amended az 10 read as follows:
.'when failure 70 ual or hold II second or third
meeting within the time prescribed occurs the
iudge may order such meeting with Ike effect
as 10 the validity Of the proceedings II the meet
Ing had been duly held, AMI may If he deems 4
best for the estate, call the second And third meet
ings 70 be held together, at which meeting th'
safne procefdln shall be had and with the SAINT
effect ~ II The second and third meetings had beef
held separately" ,
Sec ia section sevenfy-three Of said act IL
hereby amended 50 as 20 read as follows:
.'The Judge shall. when the second and third
meetings have not been held together, appoin
a third meeting Of the creditors, at which
meeting or some meeting thereafter II II appears
the satisfaction of the Judge that the debtor ha
made full declaration and delivery Of all his esta
as herein required, and that he has in all thing
conforrned himself 10 the directions and require
ments Of the law relating TO insolvent debtors, IN
Judge shall grant him certificate OF discharg
which shall be in substance as follows:
State Of Vermont, cour- q, Insolvency
To all people to whom these presents shall come
A. B., Judge Of the court of insolvency for The dis