The Olneyville times. (Olneyville [Providence, R.I.]) 1887-1917, 1908-09-04

reRfster as the case may be- 10 he pro.
duced and filed at any time. Claims duly
proved shall be allowed by the court OF
register unless objected 10 by some one
OF the parties In interest. Allowed claims
may be afterwards rejected for cause
shown, after notice TO and hearing OF
parties interested. Claims Of secured cred;
itors may be allowed TO the extent Of the
debt due over and above the value OF the
securities. which value shall be determin.:
ed either by the court by sale OF the
securities: dividends shall be paid only OF:
such excess. In case OF mutual debts and
credits the same shall be Offset and the
claim allowed only for the balance Of the
account. Claims OF preferred creditors. ex-
cepting claims preferred by statute. shalE
not be allowed unless such creditors sur
render their preferences.
Sec 30. Any creditor who shall prove:
his claim against the estate Of the insolv-:
ent at any time before the settlement of
the estate by the assignee shall be entiteG
10 his proportion of any dividend declared;
as provided in section fiftyive of this
chapter.
Sec. 81. Any creditor not a citizen OF
this state shall file. with his proof Of:
claim OF any debt contracted hereafter, "A:
stipulation. by him signed, in the words:
following: II, creditor:
Of who has been adjudged:
an insolvent In the superior court i'm the:
state OF Rhode Island in consideration Of:
the allowance of my proof OF claim and:
my participation in any di yidends that
may be declared out of said estate do.
hereby agree to submit myself TO the:
Jurisdiction OF said court and TO be bound:
by any orders and DEGREES made by said:
court and by any discharge which may:
be granted to the said nsolvent. i'm the:
same manner and 10 the, sa ne effect as:
the citizens of the state of Rhode Island:
shall be bound thereby" and in default:
af oh Yf,N.,l -.
be allowed.
OF CREDITORS MEETINGS AND PRO-:
CEEDINGS THEREAT.
Sec. 80. The court shall order the first:
meeting Of the creditors OF The insolvent:
TO be held at some place most convenient:
for all parties within the county where:
the insolvents or some one Of them re-
sides. and the first meeting shall be held
not less than fifteen nor more than forty
days after the adjudication o. insolvency:
Provided. That il by accident or mistake
the same shall not be held within such
time, the court or. If the matter be sent
TO a register. the register may fix a day
as soon as may be thereaft ar At such
meeting the justice or If tie mlttc~ he
sent to "a register, the register. shall be
present and preside and shall allow or
disallow the claims of creditors there pre-
sented. and shall publicly examine and
interrogate the insolvent ard permit any
NItbilOIS, SO utSlflnS, TO lntt 'fOSdte Sllcn
insolVent The creditors shall thereafter
choose one or three assignces Of the es-
tate Subsequent meetings shall be held
as may seem desirable. Whenever the af-.
fairs of the estate are ready to be closed:
and settled, a final meeting of creditors:
shall be had. The court or register shall:
call meeting at any time AT the written:
request of one-fourth in an cunt of the:
creditors whose claims have leen allowed:
Such meeting shall be held within three:
weeks from the time OF such request:
Creditors shall be notified by mail post:
age prepaid, TO their respective addresses:
as they appear in the list of creditors Of:
the insolvent or afterwards filed with:
the papers by them, of all creditors meet:
ings, all examinations of tie nsoivent:
all hearings as to compositions and pub:
lie sales of property. applications for dis:
charge, accounts of the assignee, pay:
ment Of dividends compromise Of any;
controversy, and proposed dismissal Of:
proceedings. All such notices shall be:
given by the register unless ordered by:
the court.
Sec. S3 At all creditors me me,tings cred:
itors holding a majority in yalue Of the:
claims allowed shall constitute a quorum:
Creditors may vote in person or by proxy:
Upon any question whereon creditors may:
vote. each creditor present or represented:
at the meeting shall state tnc amount OF:
his claim together with his vote on the
a majority of the total amount so stated
shall determine the question.
OF ASSIGNEES AND ASSIGNMENTS.
Sec. "a. The creditors at their first meet
ing shall choose a proper person or per-:
sons as assignee or aSsignees of the in:
solvent estate, and fill all vacancies at:
called meetings III the creditors do not:
appoint an assignee or assgnees at their:
first meeting, or fill any vacancy at the:
GrGf he r.
ours. the court or. If the matter be be-
fore a register. the register shall make
the appointment. For cause shown the
assignee or assignees or any OF them,
may be removed by the court on proper
application.
Sec. 80. An assignee before entering
upon the performance of his duties and
within ten days after his appointment,
shall qualify by entering into bond to the
superior court, in such sum and with
such surety as shall be fixed and ap-
proved by any justice of said superior
court or by the register, If the matter
be before "a register, conditi )ncd on the
faithful performance of his official du-
ties: Provided, however, that any Justice
OF such court, or said register. may in
his discretion extend the time within
which such bond shall be filed. All bonds
of assignees shall be filed in the office OF
the clerk of the superior court in Provi-
dence, and may be sued upon in any
proper court at the relation OF any per-
son Interested or aggrieved. upon surety
for costs being given TO the court in
which such suit is brought. Joint assignees
may give joint or several bond: and any
assignee failing 10 give bond In manner
aforesaid shall be heemed % have de-
clined his appointment
Sec. s.. Accounts and papers Of as
signees and registers shall be open to the
inspection OF the court and its officers
and Of all parties in interest, at all proper
and convenient times.
Sec. 81. The court or register shall. hy
an instrument under its or is hand. as
sign and convey TO the ASST ynee all the
estate, real and personal. of the debtor,
except such. other than bills Of exchangel
and negotiable promssory notes. as is byI
law exempt from attachment and all his
deeds, books of account ano papers re
lating TO his property conveyed. which
instrument shall operate 10 convey nj
said property OF such insolvent in this
state. Such deeds books Of account ancl
papers. after discharge is obtained oi
composition effected. shall be returned &C.
such debtor. Every insolvcnt shall eN