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THE INSOLVENT DEBTORS LAW.

THE INSOLVENT DEBTORS LAW.

An Act to amend the Code of Civil Procedure. The People of the State of New York, represented in Senate and Assembly, do enact as follows:

THE INSOLVENT DEBTORS LAW. Title 1, of chapter 17 of the Code of Civil Procedure, is hereby amended to read as follows:

TITLE I.

ARTICLE 1. Voluntary assignment by a debtor. (8$ 2149-2161.)

2. Discharge of an insolvent from his debts. ($$ 2170-2189.) 3. Discharge of an imprisoned judgment debtor. (8$ 2190

2197.) 4. Care of property of a person confined for crime. (&$ 2200

2204.) 5. Trustees of insolvent and imprisoned debtors. (S$ 22102230.)

ARTICLE I.

VOLUNTARY ASSIGNMENT BY A DEBTOR.
SECTION 2149. Short title.

2150. Requisites of assignment.
2151. Inventory.
2152. Wages of employes preferred.
2153. Preferences limited.
2154. Bond of assignee.
2155. Advertisement for claims.
2156. Removal or death of assignee.
2157. Accounting and service of citations.
2158. Proceedings on accounting.
2159. Effect of orders and decrees.
2160. Sale or compromise of debts.
2161. Trial by jury; costs; commissions

1 $ 2149. Short title.-This title shall be known as the 2 insolvent debtors law.

1 $ 2150. Requisites of assignment.-Every conveyance 2 or assignment by a debtor of his property to an assignee, 3 for the creditors of the debtor, shall be in writing, and 4 shall specifically state therein the residence, and kind of 5 business carried on by him at the time of the assign6 ment, the place at which such business shall then be 7 conducted, and, if in a city, the street and number 8 thereof, and, if in a village or town, such apt designation 9 as shall reasonably identify the debtor. 10 It shall be duly acknowledged or proved, and shall 11 have annexed thereto or indorsed thereon the assent of 12 the assignee, subscribed and acknowleded by him, and 13 shall be recorded in the clerk's office of the county 14 where the debtor shall reside or carry on his business at 15 the date thereof. 16 If made by copartners, it shall be recorded in the 17 county where the principal place of business of the 18 copartners is situated. If real property is assigned, and 19 is situated in a county other than the one in which the 20 original assignment is required to be recorded, a certified 21 copy of the assignment shall be filed and recorded in the 22 county where the property is situated. R. S., 2536, L. 1877, ch. 466, $ 3.

L. 1888, ch. 294, SS 1, 2. (Post, p. 1338a ) 1 $ 2151. Inventory.- The debtor shall, within twenty 2 days after making the assignment, cause to be made 3 and delivered to the county judge of the county where 4 the assignment is recorded, an inventory containing: 5 1. His name, occupation, place of residence and place 6 of business. 7 2. The name and place of residence of the assignee. 8 3. A full and true account of all the creditors of the 9 debtor, stating the last known place of residence of 10 each, the sum owing to each, with the true cause and 11 consideration therefor, and a full statement of any 12 existing security for the payment of the same.

13 4. A full and true inventory of all the debtor's 14 property, at the date of the assignment, with the 15 incumbrances existing thereon, and of all vouchers and 16 securities relating thereto, and the nominal as well as 17 the actual value of the same, according to the best 18 knowledge of the debtor. 19 5. An affidavit made by the debtor that the same is in 20 all respects just and true. 21 But if the debtor shall omit, neglect or refuse to make 22 and deliver such inventory within the time required, 23 the assignee shall, within thirty days after the date 24 thereof, cause to be made and delivered to such county 25 judge such inventory, in so far as he can; and the 26 county judge shall, at any time, upon the application of 27 the assignee, compel, by order, the delinquent debtor 28 and any other person to appear before him and dis29 close, under oath, any knowledge or information he 30 may possess, necessary to the proper making of the 31 inventory. 32 The assignee shall verify the inventory so made by 33 him to the effect that the same is, in all respects, just and 34 true to the best of his knowledge and belief. 35 If the assignee shall be unable to make and file the 36 inventory within said thirty days, or such further time 37 as may be allowed, the county judge shall require by 38 order the assignee forthwith to appear before him and 39 show cause why he should not be removed. Any 40 person interested in the trust estate may apply for such 41 order and demand such removal. 42 The books and papers of such delinquent debtor shall 43 at all times be open to the inspection and examination 44 of any creditor. The county judge shall by order require 45 the debtor or assignee to allow such inspection or 46 examination. 48 The inventory shall be filed by the county judge in 49 the office of the clerk of the county in which the assign50 ment is recorded. R. S., 2537, L. 1877, ch. 466, $ 3.

L. 1878, ch. 318, $ 1. (Post, p. 1339a,)

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