demands, and without giving any preference to debts due on specialties.

debtor as Guar

(5509.) SEC. 31. In making such distribution, the assignees Debts due from shall first pay all debts that may be owing by the debtor as dian, etc. guardian, executor, Administrator or Trustee; and if there be not sufficient to pay all debts of the character above specified, then a distribution shall be made among them in proportion to their amounts respectively.

debts are not due.

(5510.) SEC. 32. Every person to whom a debtor shall be Creditors whose indebted for a valuable consideration, in any sum of money not due at the time of such distribution, but payable afterwards, shall receive his proportion with other creditors, after deducting a rebate of legal interest upon the sum distributed for the time unexpired of such credit.

etc., when set

(5511.) SEC. 33. When mutual credit has been given by any Mutual credits, debtor, and any other person, or mutual debts have subsisted off." between such debtor and any other person, the assignees may set-off such credits or debts, and pay the proportion or receive the balance due; but no set-off shall be allowed of any claim or debt which would not have been entitled to a dividend as hereinbefore directed.

mands purchas

(5512.) SEc. 34. No set-off shall be allowed by the assignees set-offs of deof any claim or debt which shall have been purchased by, or ea. transferred to the person claiming its allowance, which could not have been set-off according to the provisions of this chapter, in a suit by the assignees.

be retained in

pending.

(5513.) SEC. 35. If at the time any dividend is made, any Proportion may prosecution be pending against the assignees, in which a case of suits demand against such debtor may be established, the assignees may retain in their hands the proportion which would belong to such demand if established, and the necessary costs and expenses of such suit or proceeding, to be applied according to the event of such suit or proceeding, or to be distributed in a second or other dividend.

by Assignees to

(5514.) SEC. 36. All sums which shall be recovered by the Fines recovered assignees on account of any liability incurred pursuant to the be distributed. provisions of this title, shall be deemed a part of the estate of the debtor, and shall be distributed as such among his creditors.

dividends.

(5515.) SEc. 37. If the whole of the estate of such debtor be Second and other not distributed on the first dividend, the assignees shall, within one year thereafter, make a second dividend of all the moneys. belonging to the estate of the debtor, then in their hands,

Creditors omit.

ting to deliver ac

vidend, etc.

among the creditors thereof as hereinbefore specified; and in the same manner from year to year, so long as any money belonging to the estate of such debtor shall remain in the hands of the assignees, they shall make a dividend thereof among the creditors entitled thereto.

(5516.) SEC. 38. Any creditor who shall have neglected to count on first di deliver to the assignees an account of his demand, before the first, second or other dividend, and who shall deliver such account to them before the second or other subsequent dividend, shall receive the sum he would have been entitled to on any former dividend, before any distribution be made to the other creditors.

Unclaimed dends.

divi

Surplus to be paid to debtor.

Assignees to ren

der account on

same with Clerk.

(5517.) SEC. 39. If any dividend that shall have been declared, shall remain unclaimed by the person entitled thereto, for one year after the same was declared, the assignees shall consider it relinquished, and shall distribute it, on any subsequent dividend, among the other creditors.

(5518.) SEC. 40. If, after settling the estate of any debtor, and after discharging his debts to creditors entitled to a dividend, any surplus shall remain in the hands of the assignees, the same shall be paid to such debtor or his legal representatives.

(5519.) SEC. 41. Within ten days after any dividend made oath, and file by any assignees, they shall render on oath, and file with the Clerk of the Circuit Court for the County in which they reside, an account in writing of all their proceeding in the premises, stating:

Assignees subject to order of

and may be removed.

1. Their disbursements, commissions, and the dividends made by them;

2. The names and residences of the creditors to whom dividends were made, and the names of those actually receiving them; and:

3. The property, moneys and effects of the debtor, remaining in their hands, and the value and situation of such property, and such assignees may at any time be compelled by a rule of such Circuit Court, to render such account on oath, on the application of the debtor or any creditor.

(5520.) SEC. 42. Such assignees shall be subject to the order Circuit Court, of the Circuit Court for the County in which they reside, upon the application of any creditor, or of any debtor in respect to whom they were appointed, in relation to the execution of any of the powers and duties confided to them, and they may be removed by such Court for cause shown.

moved, etc., new

pointed.

(5521.) SEC. 43. Whenever any assignee shall be removed or If Assignee be reshall die, or become incapacitated to perform his duties, the one may be apofficer who originally appointed such assignee, or in case of his absence, death or removal, any other officer residing in the county where such assignee was resident, who by law would have been empowered to make such appointment, after giving notice, and an opportunity to the creditors to propose proper persons, may appoint another in the place of such assignee, who shall in all respects have the like powers and authority, and be subject to the same control, obligations and responsibilities; and the said appointment shall be certified and recorded as the original appointment was required to be recorded.

to renounce may

show cause.

(5522.) SEC. 44. Any assignee who shall be desirous of Alguee wishing renouncing the trust vested in him, may apply to the officer obtain order to from whom his appointment was received for an order to allow all persons interested to show cause why such renunciation hould not be accepted.

may be made to

accompanied by statements.

(5523.) SEC. 45. If the officer who made the appointment When application hall not then be an officer, such application may be made to other officer. ny other officer of the county having authority by law to opoint such assignee in the first instance. (5524.) SEC. 46. Such application shall be accompanied by Application to be full, true and just account of all the transactions of such signee, in that character, and particularly of the property, neys, and effects received by him; of all payments made, her to creditors or otherwise; and of the remaining estate I effects of the debtor, in respect to whose estate he was ointed an assignee, within his knowledge, and the situation he same.

annexed.

525.) SEC. 47. To such account shall be annexed the affida- Affidavit to of the assignee, that the said account is in all respects just true, according to the best of his knowledge and belief; h affidavit shall be subscribed and sworn to before the er to whom the application is made, and shall be certified

m.

lished.

be

26.) SEC. 48. Such officer shall thereupon grant an order, Notice to be pubting notice to be given to all persons interested in the e of the debtor in respect to whom such assignee was nted, to show cause on a day and at a place therein to be ied, why he should not be permitted to renounce his tment, and such notice shall be published once in veek, for six weeks successively, in the State paper, or

Hearing.

Assignee to ге

when to be

such other newspaper or newspapers, as the officer shall direct.

(5527.) SEC. 49. On the day appointed for such hearing, and on such other days as shall from time to time be appointed, if it shall appear that the notice was duly published, the officer shall proceed to hear the proofs and allegations of the parties.

Order allowing (5528.) SEC. 50. If it shall appear that the proceedings of nounce, etc., such assignee in relation to his trust, have been fair and honest, granted. and particularly in the collection of the property and debts vested in him, and if such officer shall be satisfied, that for any reason, it is inexpedient for such assignee to continue in the execution of the duties of his appointment, and that such duties can be executed by another assignee without injury to the estate of the debtor, or to the creditors, and if no good cause to the contrary appear, such officer shall grant an order allowing such assignee to renounce his appointment, and to assign the property and effects of the debtor.

Assignee to Execute Assignment.

ment; powers,

signee.

(5529.) SEC. 51. Such assignment shall be executed by the assignee, to such person or persons as the officer shall appoint for that purpose; and in such appointment such person as shall have been named to be assignee by the creditors, or by the major part of them, shall be preferred if approved by such officer.

Effect of Assign- (5530.) SEC. 52. Such assignment shall transfer to the peretc., of new As son to whom it shall be made, all the remaining estate and effects vested in the assignee so renouncing; and such new assignee shall have the same powers, be subject to the same duties, and be entitled to the same compensation as the original assignee, and shall continue any suit that may have been commenced by such original assignee in his name, or in that of such new assignee.

When order to be made discharging Assignee.

(5531.) Sec. 53. Upon producing to the officer allowing such assignment, the certificate of the assignee, duly proved by the oath of a subscribing witness, that such assignment has been duly made, and the property capable of delivery, belonging to such estate, together with the books, vouchers and documents, relating to the said estate, have been duly delivered, and also a certificate of the Register of Deeds of the County that such assignment has been recorded; such officer shall grant to the assignee so applying an order that he be discharged from his trust.

(5532.) SEC. 54. Upon such order being granted, such

upon discharged

liabilities.

ssignee shall be discharged from the trust reposed in him, and Assignee thereis power and authority shall thereupon cease, but he shall, subject to prior otwithstanding, remain subject to any liability he may have curred, at any time previous to the granting of such order, the management of his trust.

to be recorded,

filed.

(5533.) SEC. 55. Such new assignment, upon being duly New Assignment oved or acknowledged, shall be recorded in the office of the and petition, etc., egister of Deeds of the County where such order was granted;" d the petition of the assignee, the affidavit and proceedings ereon, with the certificate of the new assignee, shall be filed the same office where the original papers and proceedings espect to such debtor were filed.

paid out of es

5534.) SEC. 56. The expense of all proceedings in effecting Expenses to be h renunciation and assignment, shall be paid out of the late. te in the hands of the assignee making the application.

oned may apply

) SECTION 1. Every person who shall be imprisoned Persons imprise of one or more executions in civil causes, may make for discharge. on for his discharge from imprisonment in the cases

e manner hereinafter specified. (a)

(a) As Amended by Act 105 of 1847. Laws of 1847, p. 172, Sec. 14.