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The Maryland Code : Public General Laws and Public Local Laws, 1860
Volume 145, Page 346   View pdf image (33K)
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346 INSOLVENTS. [ART. 48.

be void, and the property or thing conveyed or assigned shall

vest in the trustee, and all acts done by a petitioner before his

application, when he shall have had no reasonable expectation

of being exempted from liability to execution, on account of his

debts or responsibilities, without petitioning for the benefit of the

insolvent laws, shall be deemed to be within the meaning and

purview of this section.

8. Any judgment or decree confessed to give an undue prefer-
ence to any creditor, or for the purpose of defrauding any creditor,
shall be void and excluded in the distribution under this article.

9. Any creditor who shall collude with the insolvent to make
his claim appear larger than it justly is, shall forfeit his whole
claim for the benefit of the other creditors.

10. The estates of the insolvents shall be distributed under the
order of the court, according to the principles of equity, and no
creditor shall acquire a lien by fieri facias or attachment, unless
the same be levied before the filing of the petition.

11. The said courts, or the judge thereof in the recess, may
remove any trustee for misconduct, or may, at discretion, dis-
charge a trustee who applies to be discharged.

12. The said courts, or the judges thereof, shall prescribe the
penalty of the bond of the trustee, and approve the security
therein, and may order new surety to be given, and remove on
failure to comply, and shall have the same power and control
over trustees under this article, which courts of equity have over
trustees appointed by decree to sell property.

13. No deed or conveyance to a trustee for the benefit of ere
ditors generally shall be deemed fraudulent, or a fraudulent or
undue preference, because of a condition requiring the cre-
ditors to release the debtor and depriving any creditor who
refuses to release of all benefit from property so conveyed in
trust, but all such deeds of trust are hereby declared to be valid,
and shall not be set aside either at the suit of a trustee under
this article, or at the suit of any creditor.

14. If any insolvent shall fail to give the notice to his creditors
herein required, or shall fail to appear, the court may fix another
day and order new notice, in its discretion.

 

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The Maryland Code : Public General Laws and Public Local Laws, 1860
Volume 145, Page 346   View pdf image (33K)
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