The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1897-02-04
AN IMPORTANT MEASURE.
Representative turner's Bill Introduced
in the House Yesterday.

Yesterday morning in the house, Repre-
sentative Turner introduced very inn
portant bill providing for the proceedings
of receivers of the estates of an insOlvent
debtor. The full text of the bill is as fol-
lows:
A bill to be entitled An act TO provide
for the appointment of a receiver of the
estates of an inssolvent debtor, and pro
viding for an injunction in cases where
an insolvent debtor has executed q mort
gage or deed of trust preferring fraudu
lent claims.
Be 1t Enacted by the Legislature of the
State of Texas:
Section /. That hereafter any insolvent
debtor or debtor in contemplation of in
| sOlvency shall execute mortgage or deed
of trust for the benefit of certain pre-
| ferrcd creditors, and shall include in the
| list of preferred creditors any creditor
whose claim or account is fictitious or
| fraudulent. a receiver of such mortgaged
property may be appointed by any judge
or any court of competent jurisdiction as
hereinaftcr provided.
Sec. 2. Any creditor of such insolvent
debtor whose claim has not been pre-
ferred and who desires a receiver of such
mortgaged property, may present an ap-
plication. therefor to any judge having
jurisdiction of the subject matter in
l
cation shall state the amount and nature
of his claim, the names and residence, if
known, of all the preferred creditors and
the amounts of their respective claims.
| the names and residence, if known, of
the mortgagor and MORTGAGE, the value
of the mortgaged estate and where sit
uated, if known, and shall specify the
particular claim Or claims alleged to be
fraudulent or fictitious; such application
D ntnip I'M 4 n
restraining such mortgage or trustee
from disposing of the mortgaged property
pending final hearing of the applica.
ton. ......g
Sec. 3. Upon presentation of the app!i-
cation herein provided for, the judge
having jurisdiction thereof, shall direct
that citation be issued and served upon
the mortgagor and mortgage and the
creditor or creditors whose claim OF
claims are alleged to be fraudulent or fic
titious, commanding them and each Of
them to appear on day certain to answer
such application. The citation provided
for in this section shall be executed ant
returned in the manner provided by law
for the service of citations in other civi
suits, and the proceedings hereunder shall
be governed by the rules governing Other
civil actions; provided, that five days ser
Vice of citation hereunder shall be suffi
cent.
Sec. 4. Should such application contain
a prayer for injunction, the judge. t.
whom the same is presented shall issue
a writ of injunction restraining the mort
gage or trustee from further action un
der the mortgage or trust deed and from
selling or otherwise disposing of sucl
mortgaged property, pending. a hearing
. of such application. The writ of injunc
ton herein provided for. shall be issue.
and served as in other cases: provided
that no writ of injunction shall issue unit
applicant shall have executed a bond a
hereinafter provided for.
Sec. j. Before any injunction shal
issue as provided for in the preceding
section, the applicant shall execute BON
with two or more good and sufficien
sureties, to be approved by the judge is
suing the writ, in such an amount as tn
Judge shall fix, payable to the creditor
: named in the mortgage, and conditione'
that the applicant will pay all such cost
and damages as may be adjudged agains
i him for wrngfully suing out such In
3 junction.
3 Sec. 6. If, upon final hearing. it sha
, he made to appear to the satisfaction q
! the Judge trying the case that any OF til