The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1886-02-11
The Council Measure Killed
in the House.
AN UNCEREMoNIOUs DEATH.
VIII the Council Accept the Action Of
the House, or Insist on the
Bills Passing?

port of the Legislature proceedings
reads as follows:
SECTION BE IL enacted By the Gorer
nor aud Legislature Assembly Of the Terri
tory of Utah: That it shall be lawful fol
any debtor in this Territory to make q
general assignment of all his property
to an assignee or assignees. for the bene
fit of his creditors, as prescribed in thi,
act, and not otherwise; Prorided, Thai
no property exempt by law from execu
ton need be included in such assign
ment.
SEC. EVERY such assignment shall
be for the benefit of ali the creditors OF
the debtor, and no preference to one
creditor or any class of creditors shall
be given therein, and in every such case
the assent of all the creditors of the as
signor shall be presumed.
SEC. 3-No such assignment shall be
valid unless:
First.-It is executed and acknowl-
edged in the manner required by law
for the execution and acknowledgment
of conveyances OF real estate;
Second.-It is accepted by the as
signees in or on said assignment;
Third.-lt contains or has annexed
thereto a schedule or schedules of the
property and effects assigned with an
estimate of the cash value of the same
and of the debts owing by such debtor,
verifis by the oath of the debtor to be
correct according to the best of his
knowledge, information and belief; and,
Fourth.-The assignment so executed
and accepted, with the schedule thereto,
be filed for record in the office of the
County Recorder Of the county where
the debtor resides, or in which he has
last carried on business. and in each
county in which any real estate therein
assigned may be situated.
PfOrided, That when the whole or any
part of the property and effects
assigned consists Of numerous articles
capable of a general description, the
schedules may describe the prop
erty in oulk and in general
way sufficient to identity it, and every
such assignment shall rest in the as
signee or assignees the title to all the
property and effects of the assignor, real
and personal, in this Territory, whether
the same is mentioned in the assign
ment and schedule or not, except prop.
erty exempt by law from execution, and
no assignment shall be adjudged fraud
ulent or invalid by reason of any mis-
take, defect or omission in the sched-
ules.
SEC. 4-The District Courts of this
Territory and the several Judges
thereof in their responsive districts.
shall have jurisdiction on the petition
of the assignee or trustee, or any cred
itor. and upon such notice as the Court
or Judge may prescribe, to make orders
and judgments in and give directions
for the execution OF the assignment.
SEC. 5-BefOre the assignee shall
enter upon the discharge of his duties,
he shall make and execute, with at least
two sufficient sureties, residents of this
Territory, q bond to the assignor or
assignors i'll Il penal sum equal to the
estimated value of the property and
effects assigned, conditioned for the
faithful execution of the trusts, and
each surety shall subscribe and take an
cath before some officer qualified to ad-
minister oaths, that he is worth Tie
amount specified in said bond over and
above all debts and liabilities exclusive of
exempt by law from execution.
The bond shall be fled in the Office of the
County Recorder where the assignor
resides or where he has last carried on
business. Any creditor may, within ten
DAYS after the fling of said bond, except
to the sufficiency Of the sureties or
either of them, and give the assignee
notice thereof. The surety excepted to
shall within FIVE days, and upon notice
Of at least two days to the Directing
creditor, justify before the Probate
Judge of the county where the bond is
lied, in the manner ! rOyided by law for
he justification OF sureties on arrest
md bail. IL the Probate Judge approve
he sureties, he shall endorse his ap-
,roval on the bond. Ii he finds the sur
,des insufficient. the assignee shall give
urther security, as may be required
md approved by the Probate Judge |
within the time he may preside, and if |
he assignee shall fail to give such |
urther security, his trust and all his !
light in and to the property shall cease,
md the Judge OF the District Court of |
he proper district may, on motion of
my person interested, and after such
notice as he may direct, appoint trus-
ee to take the property and execute
he trusts of the assignment. and the
rustee so appointed shall give security
o be approved by the said District
Judge, who may thereupon, by order,
Iirect the assignee named in the as
ignment to surrender the trust, prop
rty and all proceeds thereof to the
rustee appointed by the said District
udge, and refusal to do so shall be
ontempt and may be punished as such.
SEC. e-Ali bonds given by asslgnees
r trustees, shall be fled in the office of
be County Recorder where the as
ignor resides or where he has last car
led on business, and certified copies
hereof and of the assignment. shall be
violence in all courts and before al! Of
GERS.
SEC. Within fifteen days after any
ssigpee or trustee shall enter upon the
uties of his trust, he shall make an
lventory of all the property and effects
f the debtor, which have come to bis
ossession or knowledge, verify the
anne to the effect that it is full, true and
orrect, and file the same for record IN
1e Office of each County Recorder
mere the assignment is recorded re
hall also within the same time give
office of the assignment to the creators
{ the assignor by publication IN
ewspaper published III or barias
eneral circulation in the county where
ne assignment is made.
SEC. S.-Any bond given by an a. I
gnee or trustee shall stand as secur''Y
!, all the creditors, and no assignmf'
hereof shall be necessary.
Of. 4