The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1885-01-25

Sec. l3. lClaims that are not due may
Q Above 4 ut their present value by dis
ounting hem at the rate of interest
the contract, if any, other
iise at thu Illegal rate, and if any cred !
tor holdf lcollateral security of less
'alue tha11his debl. the value thereof
nay be est .haied by the assignee, and
My the difference between such sum
md the deb shall be allowed.
comes Unsuitable to perform
he trust, rFuses or neglects so to do,
1r mismanaAes the property, the county
Judge or the|judge of the district court
may, upon the application of the as
signor, or oft or more of the creditors,
upon reasonable notice TO all parties in.
by f-blication or otherwise, as
such judge lnTy direct remove such as
signee, and iinease of vacancy by death
or otherwispFhall appoint another in
his place, WY shall have the same
powers and ball be subject t, the
same liabilitiAas the original assignee.
Sec. 10. Wc1ever any assignee shall
have in hisAInds funds sufficient to |
pay ten per int. of the debts due by |
the assignor shall make a pro rata |
distribution Oh the same among said |
creditors, an, We assignee shall be en-
titled to reasN ple compensation for his |
services and necessary costs and eX-
penses, inclIN IL also his attorneys |
fees, all to bM bowed in case of differ |
ence betweenNv parties, by the county
judge or judge the district court.
Sec. l6. WL-'lver any assignee shall
have fully per he'd the duties of his
trust and de- to be finally dis
charged there. ~, he may make re-
| port of his pre- tdings under the as
signment to tNIf1istrict court of the
county in whic SCh assignee resides
showing the mCAf IS and assets that have
come into his hans, and how the same
have been disbuled and disposed of,
the truth OF whicishall be verified by
his affidavit, any such report shall,
when approved 81 the court, be filed
and recorded, witlthe order of appro-
val, in the Office olhe county clerk of
the county in whif the assignment is
recorded, and no zion shall be brought
, against such assigte by reason of any
: thing done by hin under the assign
. ment as shown byts report, unless the
same be brought Nhin twelve months
: from the tin OF the I'LL
0 ing thereof, aforesaid; and
u any moneys Nr funds on
It hand shall be deFV ted in the district
!, court, subject TO Apaid out upon the
d decree of said courttrovided, when the
o assignment is for tltbenetit of consent
1t ing creditors only, md there remains
% an excess of mond or funds in the
is hands of the assignl after paying con-
senting creditors q amount of their
e claims and the exy lses of executing
le the assignment, IN report of the as
n signee shall, in addlon to the above
4 contain full and 1plete statomen
II of the quantity andalue of such eX
X cess, and of what 1t Insists, also lis
OF the names OF th}npaid creditor!
or and tho amount otheir respective
TO claims. Such assiAe shall, also
IN twenty days before Vng said report
to give personal noticdo each OF tn,
1t, creditors who took nOlenett under tn,
or assignment of the fig of the same
or Such notice may be Itten or printed
Ii and sent TO tho creditd by mail or 9th
vs. erwise, such notice Sid state the cour
d, to which said report b been made anC
let the time an6l place O
N holding the sand the cour
he shall, at its first torn, Nor the filing o
nd said report, If all of thtroditOrs shal
ID have filed their claims ith the clerk
IS verified as herein provAd, proceed t,
Ter make an equitable dist ution of sucl
or excess among the crItors entitle,
pt thereto, and for this pulse the cOur
VS. may have any of the pierty remain
he ing unsold, belongindo the assigned
m, estate, sold at private obblic sale. Ii
he case all the creditors dbot file thei
ry, claims ut the first term laid court, tn
an final distribution sh9lbe postponed
OF until the second term al tho filing o
he said report.
RS Sec. IL. In assignmei under thi
od act any attempted prdenCe of an,
on, creditor or creditors of ttlssignor shall
lat render the assignment tIdulent ant
err void.
de- Sec. Is. The title to,e assigned
I'VE property shall pass to thdssignee i'm
the mediately upon the deliyi TO him o
nd the deed Of assignmenput the as
lch signor shall haye accesb the assets
ac- books and papers of the aIgned estate
lch for the purpose of markings inventor,
md and list as herein provide
Sec. 10. No kinsman qcreditor o
for the assignor shall be cOmbnt to &C
or as assignee, and every hsier by
IND creditor of his claim agRt the as
signor, in order to qualify hself to nc
abe as assignee, shall bar sucllaim from
Use, any benefit under the assment, ant
OPP shall be sufficient cause TO move sue
ter, creditor from the plad or oflic
TO of assignee; proyidedA that
eX- the party 20 whom )e CLAIM
and was transferred receiveGhe sam
ent in good faith aud for value consid
It of GRAFTON, and without noticf the In
as tent, purpose or design OF eredito
be in transferring the same, sullaim /
lra- his hands, II otherwise valihd PROF
ent, erly filed with the assigudlhall b
II 10 entitled to the same beneAs othV
rue claims under the assignment
Sec. 90 Where not otherwhhange
tor, the common law rules of ctructlo
as shall be applicable TO assignms mad
lent under this act.
;, as Sec. q. When an assignmds mad
Il u for the benefit of COnsentlna editOI
itor only, and none except the us An
late provisions of the assignmont,lhail b
the the duty of the assignee to mlhis n
tho port to, ana turn the Hssignedopert
the and assets into the court as praed Il
lich In section l6 OF this act, and upthe II
TINS ing of said report by the assig, an
ln- approving OF the same by the III, Nh
l or court shall disburse and dlstrla Oh
tho proceeds of such assigned prOpi an
snee assets in like manner as il proud fc
lteu, I'm said section l6 among all the litoI
re- of the assignor without prelepe I
men any. III
r or Sec. %. The act entiA"A
ntly act i'm relation TO 6gn
thor ments for the benefit of credithn,
and to regulate the same, aud the bed
II 1t ings hereunder" passed by tsil
lain- teenth legislature, and approvedrc
red n, 1879, aud the amendment YET
sueh passed by the eighteenth leghi
, the and approved April z, 1888, be akt
10 or Same are hereby repealed,
anne,
!