CHAPP.
LXXXVIII.
No person to be
entitled to the
benefit of this
act but a citi-
zen, &c.
Trustee to give
bond, &c.
On executing a
deed, debtor to
be discharged,
&c.
May retain his
apparel.
Trustee may be
directed to sell,
&c. |
1799. NOVEMBER.
LAWS OF MARYLAND.
" other property, debts, rights or claims, thereby to defraud my creditors,
or any of them, or to
" secure the same to receive or expect any profit, benefit or advantage,
thereby;" and the chancel-
lor shall thereupon name such person as a majority of the creditors
in value, their agents or
attornies, then present, shall recommend, to be a trustee for the benefit
of the creditors of the
petitioning debtor, or incase of the non-attendance of the creditors,
or of their not making a re-
commendation, the chancellor shall name such person as he shall think
proper, to be a trustee as
aforesaid.
III. AND BE IT ENACTED, That no person herein mentioned shall be entitled
to the bene-
fit of any of the provisions of this act, unless the chancellor shall
be satisfied, by competent testimo-
ny, that he is, and at the time of passing this act was, a citizen
of the United States, and of
this state, and unless, at the time of presenting his petition as aforesaid,
he shall produce to the
chancellor the assent, in writing, of so many of his creditors as have
due to them the amount of
two thirds of the debts due by him at the time of the passing of this
act; provided, that foreign
creditors, not residing in the United Stats, and not having agents
or attornies residing therein duly
empowered to act in their behalf, shall not be considered within the
intent and meaning of this clause;
and provided also, that the chancellor may, without the assent of the
creditors as aforesaid, from
time to time order to be discharged from custody any of the said petitioners
who may be in actual
confinement in virute of any process issued, or that may be issued,
in pursuance of any debt at this
time due and owing by him, which discharge is hereby declared to be
a release only of the person of
such debotr, but not of his property, unless the assent in writing
of two thirds in value of the
creditors as aforesaid be obtained.
IV. AND BE IT ENACTED, That before such trustee proceeds to act, he
shall give bond for the
faithful performance of his duty, to such person, in trust for the
creditors of said petitioning
debtor, and in such penalty as the chancellor shall direct, which shall
be recorded in the office of the
register of the court of chancery, and a copy thereof, certified under
the hand of the said register,
shall be good evidence in any court of law or equity of this state;
and if any trustee, appointed by
virtue of this act, shall refuse to act, or die, or neglect to give
bond as aforesaid, in a reasonable
time to be judged of by the chancellor, or be removed by the chancellor
for misbehaviour, he shall
appoint such other person as he shall think proper in his place, who
shall give bond as aforesaid, and
on giving such bond, (in case the said debtor had conveyed his property
to the former trustee,) h
shall immediately be vested with all the property of every kind, and
all the debts, rights and credits,
of the said debot, completely as the former trustee was vested with
the same.
V. AND BE IT ENACTED, That upon the said petitioning debtor's executing
and acknowledging
a deed to the trustee to be appointed as aforesaid, conveying all his
property, real, personal and
mixed, and all debts, rights and claims, agreeably to the oath, or
affirmation, of such debtor as afore-
said, and on his delivery to the said trustee of all his said property
which he shall have in possession,
and of his books, papers, and evidence of debts of every kind, and
the said trustee's certifying the
same, in writing, to the chancellor, it shall be lawful for the chancellor
to order that the said debtor
shall be discharged from all debts, covenants, contracts, promises
and agreements, due from, or owing
or contracted by, him, before the date of the said deed, and by virtue
of such order the said
debtor shall be discharged as aforesaid; provided, that no person who
has been guilty of a breach of
the laws, and hath been fined, or is liable to be fined, for such breach,
shall be discharged from the
payment of any fine incurred for any breach of the laws of this state;
and provided, that any
property which he shall thereafter acquire by gift, descent, or in
his own right by bequest, de-
vise, or in any course of distribution, shall be liable to the payment
of the said debt; and provided,
that the discharge of such debtor shall not operate so as to discharge
any other person from any debt.
VI. AND BE IT ENACTED, That the chancellor may allow such petitioning
debtor to retin the
necessary wearing apparel of himself and family.
VII. AND BE IT ENACTED, That the chancellor may direct any trustee to
be appointed by virtue
of this act to sell and convey the property conveyed to him by the
petitioning debtor, at such time,
and on such terms and conditions, as he shall think most for the advantage
of the creditors, and the
produce thereof, after satisfying all incumbrances and liens, shall
be divided among the said cre-
ditors, agreeably to the several and respective claims; but no judgment
to be entered after the
passage of this act against any of the said debtors who shall take
advantage of this act, shall
be a lien on his real property, nor shall any process against his real
or personal property have any
effect thereon, except writs of fieri facias actually and bona fide
laid before the passing of this act.
VIII. AND |