| 1796. |
LAWS of MARYLAND.
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CHAP.
LXX. |
be given to the creditors, and also to many of them as can be served
therewith,
or their agents or attornies, or direct notice of such application to be
inserted in
the public news-papers for such time as he think proper, which, in case
of
there being a creditor or creditors beyond sea, shall not be less than
six months,
and on their appearance, or neglect to appear on notice at the time or
times and
place appointed, the chancellor shall administer to the petitioning debtor
the following
oath or affirmation, as the case may require: " I, A. B. do swear,
or
" solemnly, sincerely and truly declare and affirm, that I will deliver
up, convey
" and transfer, to my creditors, in such manner as the chancellor shall
direct,
" all my property, that I have or claim any title to or interest in, at
this time,
" and all debts, rights and claims, which I have, or am any way entitled
to, in
" possession, remainder or reversion, and that I have not, directly or
indirectly,
" at any time, sold, conveyed, lessened or disposed of, for the use or
benefit of
" any person or persons, or intrusted, any part of any money, or 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 chancellor 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 in case
of the non-attendance of the creditors, or of their not making a recommendation,
the chancellor shall name such person as he shall think proper to be a
trustee
as aforesaid. |
No person to
be entitled to
the benefit of
this act but a
citizen, &c. |
III. And be
it enacted, That no person herein
before mentioned shall be entitled
to the benefit of any of the provisions of this act, unless the chancellor
shall
be satisfied, by competent testimony,
that he is, and at the time of the passing
of 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 States,
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 virtue 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
debtor,
but not of his property, unless the assent in writing of two thirds in
value of the
creditors as aforesaid be obtained. |
Trustee to
give bond,
&c. |
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 such 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,) he shall immediately be vested with all the property of
every
kind, and all the debts, rights and credits, of the said debtor, as completely
as
the former trustee was vested with the same. |
On executing
a deed, debtor
to be discharged,
&c. |
V. And be it
enacted, That upon the said petitioning
debtor's executing and
acknowledging a deed tot he 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 aforesaid, and on his delivery
to the said trustee of all his said property which he shall have in possession,
and |
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