Year: 1879

Morning.


Be At Aenocted ytAe Legislature Of the state Of


Minnesota:


eecuon l. Whenever the property Of any debtor
If attached or levied by any CREDITOR by virtue
OF writ or process issued out of court of record
OF OF TINS State such debtor may, at any time within
ten days after such attachment or lew shall have
Deen made, make an assignment of all his property
and estate not exempt from law for the equal bene
NJ OF al his creditors in proportion to their respect
I've clams who shall file releases Of their debts and
claims against such creditor as hereinafter provded
which assignment shall be made in accordance with
ana be governed bv the laws of the State of Mime
sofa relating to assignments made by debtora and
upon the making of such assignment all attachments
or leviesso made shall be dissolved provided that
TINS section shall not apply to where the COM
court twenty days prior to entry of Judgment.
Sec: 2. Whenever any debtor, being insolvent,
snall 40 any act or make any conveyance whereby
any ono of his creditors shall obtain preference
over any other of his creditors or knowingly omit to
do any act which he might lawfully do to prevent
one of his creditors from obtaining preference
TINS act, any one of his creditors holding
claim of not less than hundred dollars in amo1nt
OF tne DEBTS or claims against such debtor may make
complaint as in civil actions, which may be heard in
any county in the discretion of the judge and after
notice to the debtor and creditors sought to be
ferred OF tho time and place of hearing the court in
term ume or the judge in vacation shall proceed
eummarily upon such complaint to hear tho parties
and receive such evidence may be proper and if
1t shall appear to the court judge that such debtor
ls nsolvent and has been giving or is about to give
to any of his creditors over others Of such
creditors, the court Judge shall appoint receiver
VINO shall take possession of all the property evil
debts chooses in action and estates of every kind Of
the debtor, not exempt by law, including property
attached or levied upon in the and subject to
the limitation herein provided and all property con-
veyed in violation of the provisions of
this act, and shall convert the sane to
money, and shall marshal and distribute
of all claims against the insolvent debtor in consid
Grafton OF the benefits of the provisions of this act as
hereinafter provided, whether their claims due or
specve claims within such time and in such manner
as the court or judge shall direct, and the court or
judge shall order the debtor to file schedule of his
proof Of claims of debtors and the payment of diy
dends in all proceedings by receivers shall be had


under the provisions of the laws of this State relat-
ing TO assignments by debtors and the court or Judge
may order such debtor to do whatever is necessary
and proper to carry this act into effect.


Sec. g.. No assignment hereafter made for the
benefit OF creditors shall give to any one creditor any
preference over the claims of another creditor excep
in cases expressly provided by law.


Sec. 4. Conveyances and payments made, and Sc
curt1es given, by insolvent debtor or by debtor
In contemplation Of insolvency, within thirty days of
the commencement of proceedings against such
debtor, unless this act with view of giving q
preference to any creditor upon pre-existing
debt or to any person under liability for such
DEBTOR over another CREDITOR shall be void as to
all creditors receiving the sane who shall have rea-
sonabe cause to believe that such debtor was insol-
vent, provided that the provisions of this section
snail not effect any payment satisfaction in whole
or in part of past due debt, made in the usual
course OF business, without any intent on the part of
the creditor to evade the provisions of this act.


sec. D. Ihe court or judge may at any time dur
ing tendency of the complaint under the second
section OF this act, allow parties to come in and
be Joined in such complaint.


sec. o. Costs IN cases upon which attachments or
levies are made, which dissolved under the pro-
visions of this act shall be preferred and shall be
paid first by the receiver to be appointed hereunder


Sect. All actions and proceedings to be COM
nenced under the provisions of this act, may be
commenced and prosecuted in the name of the re-
ceiyer appointed as herein provided and all laws of
this State OF general nature applicable to re-
ceivers and not in copict with the provisions of this
act, shall apply to receivers appointed hereunder


Sec. s. Any creditor whose claim is disaHowed in
wnole or III part by any assignee appointed or Sc
lected under this act under the provisions of the
assignment laws Of this State regarding assignment
OF debtors, may appeal from such dsalowance to
the district court and there have such claim tried as
other civil actions. Such appeal may be taken by
giving notice thereof within ten days after such dis
allowance, and serving such notice on the assignee


Secs. ln case of the death of any assignee or
receiver the court may appoint another to fill the va
cancy.


Sec. TO- No creditor of any nsolvent shall receive
any benefit under the provisions of this act or any
payment of any share of the proceeds Of the debt
or's estate unless he shall have first filed with the
clerk OF the district court in consideration of the ben
ehts of the provisions of this act; release to the
debtor OF all claims debts and demands, other than
such as may be paid under the provisions of this act
for the benefit of such de btor and thereupon the
discharging such debtor from all claims or debts
held by creditors. who shall have filed ralaasoa