Imágenes de páginas






[Supplementary Title. TITLE 14.- Of voluntary assignments by a debtor,

for the benefit of his creditors.]



[blocks in formation]

Of the Assignment of the Estates of non-resident, absconding, insolvent,

or imprisoned Debtors, ART. 1. – Of attachments against absconding, concealed and non-resident debtors.

[Repealed by L. 1877, ch. 417, and L. 1880, ch. 245.] ART. 2. - Of attachments against debtors confined for crimes.

(Repealed by L. 1880, ch. 245.] ART. 3.- Of voluntary assignments, made pursuant to the application of an insolvent

and his creditors.

[Repealed by L. 1880, ch. 245.] ART. 4. — Of proceedings by creditors, to compel assignments by debtors imprisoned

on execution in civil causes.

[Repealed by L. 1880, ch. 245.] ART. 5. – Of voluntary assignments by an insolvent, for the purpose of exonerating

his person from imprisonment.

[Repealed by L. 1880, ch. 245.] ART. 6. – Of voluntary assignments by a debtor imprisoned in execution in civil

[Repealed by L. 1877, ch, 417 and L. 1880, ch. 245.] ART. 7. - General provisions applicable to proceedings under the several preceding

articles, or some of them.

[Repealed by L. 1880, ch. 245.] ART. 8. Of the powers, duties and obligations of trustees and assignees under

this title.





SBC. 1. Assignees and trustees appointed under preceding articles declared SEC. 11. Persons concealing property or debts, to forfeit double the amount, etc. ART. 8.

trustees, etc. 2. If there be only one, provisions having reference to several, to apply. 3. Powers of trustees where there are more than one. 4. Powers of survivor. Property in the hands of trustee dying, etc., pro

vided for. 5. Trustees to take oath ; oath to be filed, and where. 6. Trustees to be deemed vested with debtor's property, and from what time. 7. Powers of trustees. 8. Trustees to give notice requiring debtors to pay, etc. 9. Time and manner of publishing such notice. 10. Trustees may sue before day of payment, etc., named in notice.


12. Debtor, etc., charged with concealing estate, may be brought up by warrant. 13. Person brought up to be examined ; examination to be reduced to writing,

etc. 14. If he refuse to be sworn, etc., officer to commit him, and how. 15. Proceedings in case such person shall bring a habeas corpus. 16. Sheriff, etc., suffering such person to escape, to be indícted, and to forfeit

$2,500. 17. Persons examined and answering, not liable to penalty ; answers how far

evidence. 18. Persons discovering concealed property, entitled to ten per cent. 19. Controversies between trustees and others, may be referred to three referees. 20. If referees be not agreed on, trustees to give notice of application, etc. 21 & 22. Referees how to be selected. 23. Selection to be certified to clerk of court, and rule to be entered. 24. Referees to have same powers, etc., as referees appointed by supreme court. 25. Report of referees, where to be filed; conclusive if not set aside. 26. Trustees to convert estate into money; to keep account, etc. 27. Trustees within fifteen months, to call a general meeting of the creditors, etc. 28. Accounts to be adjusted, and amount of monies in hand declared. 29. Trustees to deduct disbursements and a commission of five per cent. 30 & 31. Duty of trustees under article first, where bonds to retain property for

the benefit of creditors, have been executed. 32. United States and sureties having a preference by laws of United States to

be first paid. 33. Manner in which remainder is to be distributed among creditors. 34. Debts due as guardian, etc., to be first paid on such distribution. 35. Creditors whose debts are not due, to receive their proportion, deducting

interest. 36. Mutual credits and mutual debts, when set off, etc. 37. Set-offs of demands purchased, etc., regulated. 38. Trustees may retain monies in their hands to meet demands in suits

pending. 39. Penalties recovered by trustees to be deemed part of debtor's estate, etc. 40. If whole estate be not distributed, yearly dividends to be made, etc. 41. Creditors omitting to deliver accounts on first dividend, etc., provided for. 42. Dividends unclaimed for one year, deemed relinquished, and to be dis

tributed. 43. Surplus remaining after settlement of estate, to be paid to debtor. 44. Certain debtors discharged under 3d, 4th and 5th articles, entitled to allow

ance, etc. 45. Trustees to render account on oath ; where filed; its contents, etc. 46. Trustees subject to order of certain courts ; removable for cause shown. 47. Proceedings in common pleas, under this title, removable into supreme

court, etc. 48. If trustee be removed or die, etc., new trustee may be appointed. 49. Trustee wishing to renounce, may apply for order to show cause, etc. 50. If officer who appointed is not in office, application to whom made. 51 Application to be accompanied by account of trustee's transactions, etc. 52. Affidavit of trustee to be annexed to account. 53. Order to be granted directing notice to persons interested to shew cause. 54. Notice to be published, how and for what time. 55. On the day appointed, etc., proofs and allegations to be heard. 56. When order may be granted allowing trustee to renounce, etc. 57. Trustee to execute assignment to such person as shall be appointed, etc. 58. Effect of such assignment; powers and duties of new assignee. 59. On certificate of assignment, etc., order to be granted discharging trustee. 60. Trustee thereupon discharged from his trust, subject to liabilities previously

incurred. 61. New assignment where to be recorded ; petition and proceedings where filed.

62. Expenses of proceedings to be paid by trustees renouncing.. SECTION 1. All assignees and trustees, appointed under any au- Assignees, thority, conferred by any of the provisions of the preceding articles tees for the of this title, in the several cases therein contemplated, are hereby benditores declared to be trustees of the estate of the debtor, in relation to 23. Wend.,

. whose property they shall be appointed, for the benefit of his Pr. R., 336. creditors; and shall be vested with all the powers and authority

One trustee, &c.

Powers of trustees where more than one.


35 N Y.,

474; 11

R., 227.


TITLE 1. herein after specified, and shall be subject to the control, obligations

and responsibilities herein after declared, in respect to trustees. [41] § 2. When any one assignee or trustee only, shall be appointed,

all the provisions herein contained, in reference to several trustees, shall apply to him.

§ 3. When there are more trustees than one appointed, the debts and property of the debtor may be collected and received by any one of them; and when there are more than two trustees appointed, every power and authority conferred by this title on the trustees,

may be exercised by any two of them. Survivor.

§ 4. The survivor or survivors of any trustees, shall have all the in hands or powers and rights given by this title to trustees. All property in

the hands of any trustee at the time of his death, removal or indying.

capacity, shall be delivered to the remaining trustee or trustees, if there be any; or to the successor of the one so dying, removed or incapacitated; who may demand and sue for the same.

[See L. 1846, ch. 158, post, p. 2536.) Trastees to take oath.

$ 5. Before proceeding to the discharge of any of their duties,

all such trustees shall take and subscribe an oath, that they will well Abb. N. s., and truly execute the trust by their appointment reposed in them, Hlow. Pr. according to the best of their skill and understanding; which oath

shall be filed with the officer or court, that appointed them.
[1 R. L., 159, \ 8.]

§ 6. The trustees taking such oath, shall be deemed vested with vested with all the estate, real and personal, of such debtor (except such as is property. exempted by the preceding articles), as follows: 41, 515; 23 1. In proceedings under the first article of this title, from the first Wend., 87; 21 Wend., publication of the notice to the non-resident, absconding or con317; 15 cealed debtor: Wend., 248;

2. In proceedings, under the second article, from the appointment Abb. N. S., of trustees : Pr., N. S.,

3. In proceedings under the third, fifth and sixth articles, from the execution of the assignment, in those articles directed:

4. In proceedings under the fourth article, when the assignment was voluntary, from the time of its execution; when executed by an officer as therein directed, from the time of the first publication of the notice in that article required to be given to creditors. [1 R. L., 159, § 10; 462, § 5; L. 1819, 44, § 4.] § 7. The said trustees shall have power,

1. To sue in their own names or otherwise, and recover all the Arp: Dec., estate, debts and things in action, belonging or due to such debtor, Bosw:: 19; in the same manner and with the like effect as such debtor might or 5 Robt.,

could have done if no attachment had been issued, or trustees ap

pointed, or an assignment had not been made; and no set-off shall 213; 15 N. Y.,41; 26 be allowed in any such suit, for any debt, unless it was owing to Barhi: 114 ; such creditor, by such debtor, before the first publication of the 4 , 115

(42) notice required in the first article, or before the appointment of trus4 Penio, 82; tees under the second article, or before presenting the petition of the Wend., 317; insolvent under the third, fifth and sixth articles, or before the pub7 Wend., lication of notice to creditors under the fourth article. But no suit 501 ; 55 Barb., 209. in equity shall be brought by assignees of insolvents under the third,


42 How.Pr. R., 227; 11

402; 3 How


3 Abb. Ct.

364 ; 8
Bosw., 626;
18 N. Y.,

fourth and fifth articles, without the consent of the creditors having ART. 8. a major part of the debts which shall have been exhibited and allowed, unless the sum in controversy exceeds five hundred dollars :

2. To take into their hands, all the estate of such debtor, whether attached, or delivered to them, or afterwards discovered; and all books, vouchers and securities relating to the same:

3. In the case of a non-resident, absconding or concealed debtor, to demand and receive of every sheriff who shall have attached any of the property of such debtor, or who shall have in his hands, any monies arising from the sale of such property, all such property and monies, on paying him his reasonable costs and charges, for attaching and keeping the same, to be allowed by the officer having jurisdiction :

4. From time to time, to sell at public auction, all the estate, real and personal, vested in them, which shall come to their hands, after giving at least fourteen days' public notice of the time and place of sale, and also publishing the same for two weeks in a newspaper, printed in the county, where the sale shall be made, if there be one:

5. To allow such credit on the sale of real property by them, as they shall deem reasonable, not exceeding eighteen months, for not more than three-fourths of the purchase money; which credit shall be secured by a bond of the purchaser, and a mortgage on the property sold :

6. On such sales, to execute the necessary conveyances and bills of sale:

7. To redeem all mortgages and conditional contracts and all pledges of personal property, and to satisfy any judgments, which may be an incumbrance on any property so sold by them; or to sell such property subject to such mortgages, contracts, pledges or judgments.

8. To settle all matters and accounts between such debtor, and his debtors, or creditors, and to examine any person touching such matters and accounts, on oath, to be administered by either of them:

9. Under the order of the officer appointing them, to compound with any person indebted to such debtor, and thereupon to discharge all demands against such person. [1. R. L., 159, § 10; 161, § 15 ; 352, § 8; 468, § 19, to 470, § 23. ]

§ 8. The trustees, immediately upon their appointment, shall give Notice to notice thereof; and therein shall require,

given. 1. All persons indebted to such debtor, by a day and at a place App. Dec., therein to be specified, to render an account of all debts and sums [43] of money owing by them respectively, to such trustees, and to pay the same:

2. All persons having in their possession any property or effects of such debtor, to deliver the same to the said trustees by the day so appointed:

3. All the creditors of such debtor to deliver their respective accounts and demands to the trustees or one of them, by a day to be therein specified, not less than forty days from the first publication of such notice.

[1 R. L., 159, 9 9.]

3 Abb. Ct.

manner of




TITLE 1. $ 9. In the case of an insolvent or imprisoned debtor, such notice Time and shall be published for at least three weeks in a newspaper printed in publishing

the county where application was made; and in the case of nonnotice. 6 Bosw.,

resident, absconding or concealed debtors, it shall be published, for the same time, in the newspapers in which the notice of an attach

ment having issued, is directed to be printed. May sue § 10. Notwithstanding any such notice, the trustees may sue for standing and recover, any property or effects of the debtor, and any debts notice.

due to him, at any time, before the day appointed for the delivery

or payment thereof. concealing

§ 11. Every person indebted to such debtor, or having the possesproperty or sion or custody of any property or thing in action, belonging to him, forfeit dou. who shall conceal the same, and not deliver a just and true account ble, etc.

of such indebtedness, or not deliver such property or thing in action, to the trustees or one of them, by the day for that purpose appointed, shall forfeit double the amount of such debt, or double the value of such property so concealed; which penalties may be recovered by the trustees.

[1 R. L., 160, § 11 ; 466, s 14.] When debt. or,etc.,may

§ 12. Whenever the trustees shall show by their own oath or be brought other competent proof, to the satisfaction of any officer named examined. in the first section of the seventh article of this title, or of 1 N. Y., 335 ; 1 any judge of a county court, that there is good reason to believe Barb., 148. that the debtor, his wife, or any other person has concealed or

embezzled any part of the estate of such debtor vested in the said trustees; or that any person can testify concerning the concealment or embezzlement thereof; or that any person who shall not have rendered an account as above required, is indebted to such debtor, or has property in his custody or possession, belonging to such debtor; such officer or judge shall issue a warrant, commanding any sheriff or constable to cause such debtor, his wife, or other person, to be brought before him at such time and place as he shall appoint for the purpose of being examined.

[1 R. L., 160, $ 12; 467, 16.] Particulars

§ 13. The officer issuing such warrant, shall examine every person

so brought before him, on oath, in the presence of the trustees or [44] any of them, touching all matters relative to the debtor, his dealings

and estate, and touching the detention or concealment of any part of his property, and touching the indebtedness of any person to such debtor; and shall reduce the examination to writing; which the person so examined is hereby required to sign, and which shall be attested by the officer.

[The same.] Person § 14. If any person so brought before such officer shall refuse to be awon to be sworn, or to answer satisfactorily, all lawful questions put to him, committed.

or shall refuse to sign the examination, not having a reasonable objection thereto, to be allowed by such officer, the said officer shall by warrant commit such person to prison, there to remain without bail, until he shall submit to be sworn or to answer as required, or to sign such examination; in which warrant, the particular default of the person committed shall be specified; and if it be, in

of examin. otion.

etc., to be

« AnteriorContinuar »