Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1897-03-29


cSsss nrf fsnsS e = Kim s. she
which notice shall state:
T. That q warrant has issued against
III Il. THAT That the payment Of any debts, to
or by said debtor, and the delivery and
transfer Of any property by him are for
'' iii. THAT meeting Of the creditors. to
assets sufficient to authorize the same, to
choose one or more assignees OF ne en-
rant. not less than ten nor morA than fifty
days after the issuing Of the same
Section sSsS AMENDED g. q sas sss
thereto the Following words: And any
creditor who has accepted q preference
contrary to the prOvisions OF this chap
a an s nor shall his claim or vote be
cousidered On any petition, or other pro.
ceedfngs. except that he shall be allowed
iii fiiing with the Register GiscSarse OF ists
security and proving his claim against
the estate as an unsecured debt. 30 that
said section shall read as follows:
Section ~. A person who has accepted
any preference, knowing that the debtor
was insolvent or In contemplation Of In
solvency, shall not prove the debt on
c ah any DIVIDEND thereon until he sur
renders TO the assignee all property,
money benefit or advantage received by
him under such 81 prsference The assignee s.
tf0n of assumps1t, from any creditor
whose claim Is 'disallowed IN whole or In
part. any dividend or proportional part
thereof. paid 10 such creditor before such
disallowaiice. And any creditor who has
accepted preference contrary to the
provisions of this chapter shall not be
permitted to vote for assignee. nor shall
his claim or vote be considered in any
petition. or other proceedings, except
that he shall be allowed his percentage
OF any dividend paid upon filing with the
proving his claim against the estate as
an unsecured debt.
Section 5. Section thirty-one OF said
chapter. is hereby amended so to read as
follows:
Section 81. II there are no assets. no
assignee shall be elected. unless a writ
by some creditor. which he may do at
any time. and shall therein state upon
oath that he has reason to believe and
does believe that there are undisclosed
assets, or. THAT the value Of the assets.
as stated by the debtor In his list so fur
D.shed. are grossly underyalued. which
far az possible by said creditor. II the
assets rot claimed as exempt do not ex-
coed one hundred dollars. no assignee
shall be elected. unless rhe Judge so or
derS. but the debtor shall at said first
meeting, assign. convey and deliver to
the register of the insolvent court all his
real and personal estate. rights and
credits. not exempt from attachment and
seizure on execution. to be disposed of
by said register as provided in section 81
OF this chapter for the disposition OF the
estate OF debtors whose debts do not
amour, to the sum of three hundred ool-
hairs. IL the assets exceed the sum of one
hundred dollars. or the judge so orders
when the assets are one hundred dollars
or less. the creditors. in presence of the
Judge. shall choose one or more assignees
OF the estate of the debtor. Such choice
shall he made by the greater part in
number and value OF dhe creditors pres
ent IN person or by attorney who have
proved their debts. and shall be made at
the first meeting unless the Judge other
wise orders. Such election is subject TO
the approval of the Judge. who may APP
point additional assignees or order a new
election. II no choice is made by the
creditors al ale time designated the
judge shall appoint one or more as
signees. and he may at any time, for
good cause SHOWN. remove an assignee
and appoint another in his place. At this
meeting the debtor shall attend am SUBJ
INIT himself to examination
Section s. Section thirty-eight CT said
chapter IS hereby amended by adding
thereto the following words: And funds
remaining in his hands uncalled for when
he settles his final account and the like
funds in the hands of the register may be
paid 10 the county treasurer. and to be
drawn therefrom and paid to the party
the judge Of fhe inso I Court. The he
county treasurer's receipt. stating the
amount and the case in which the same Is
deposited. shall be filed with the papers In
the insolvent court and be allowed as a
voucher by the Judge so that said Sec
ton. as amended, shall read as follows:
in his own n as assg gssrn s in dep pb
bank as the judge approves. all money
coming to his hands belonging to the in
solvent estate. and shall account for all
interest received thereon. And funds re-
naming in his hands uncalled for when
he settles his final account and the like
x1- tn l.., - \
paid to the county treasurer. and to be
drawn therefrom and paid to the party
emitted thereto only upon order of the
judge of the insolvent court The county
treasurers receipt. stating the amount
and the case in which the same is de-
posted. shall be filed with the papers in
the insolvent court and be allowed as
voucher by the Judge,
chapter is hereby amended so as to read
Section 49,. Whenever an assignee re-
ceives from the estate assets available to
pay dividend equal to twenty-five per
cent of the debts proved. exclusive of ex-
penses he shall declare and pay such
dividend and render an account thereof
to the judge. In all cases. he shall file an
account within six months from the. date
of his election unless for cause shown the
Judge shall extend the time. No dividend
already declared shall be disturbed by
reasonof debts being subsequently, proved
but the creditors proving such debts are
entitled to dividend equal to those al
Tct.uy TeCtNtu Dy Tue OtneT crcultOrS De-
fore any further payment is made to the
latter In all cases of contingent or dis
puted claims the assignee may reserve an
amount equal to the dividend which
would be due upon such claim If finally
allowed. unless otherwise ordered by the
judge If such disputed or con.ingent claim
is finally allowed. such reserved amount
shall be paid to the owner of such claim;
otherwise it shall be accounted for when
the final distribution of the estate is
made. And for each twenty-five per cent
of assets received. a like dividend shall be
made. A final dividend shall be made
within one year from the date of his elec-
ton. unless for cause shown the Judge
snail extend the time. and whea the same
is made the assignee shall exhibit an ac-
count of the full settlement and disposal
of the estate coming to his hands. and of
the fees and expenses arising therefrom.
which shall be examined by the judge
and II found correct. shall be by him APP
proved. and thereupon the assignee shall
be discharged from his trust No divi-
dend shall be paid or declared without the
approval of the court, entered of record
The register shall give not less than five
days notice. to all creditors named in the
schedule of debts. of all dividends about
to be declared. ard the same fee shall be
charged as for other notices.
Section s.. Section forty of said chap
follows:
Section 40 In making dividend under