2016 ARTICLE 47

For cases apparently now inapplicable to this section because of changes in the
law, see Kelso v. Stigar, 75 Md. 396; State v. Reaney, 13 Md. 230; Carter v. Denni-
son, 7 Gill, 157; Chaplin v. Shoot, 3 H. & McH. 350.

As to the insolvency of agents and factors, see art. 2, se_cs. 11 and 14.

As to suspension of statute of limitations pending dismissal of petition in insolvency,
see art. 57, sec. 9.

An. Code, 1924, sec. 2. 1912, sec. 2. 1904, sec. 2. 1888, sec. 2. 1854, ch. 193, sec. 2.

1880, ch. 172.

2. The court, or one of the judges thereof, shall then appoint a pre-
liminary trustee, who shall give bond to the State, with surety or sureties
to be approved by the judges or clerk of said court in such penalty as the
court, or one of the judges thereof, may prescribe, for the faithful dis-
charge of his trust, and the insolvent shall immediately convey to such
trustee all his property and estate of every description, and upon the ap-
proval of such bond, whether such conveyance has been made or not, all
the property of every description, rights and claims of the insolvent as well
such as are enumerated and described in his schedule, as also all other
property, rights and claims not so enumerated and described in his sched-
ule, shall vest in the said trustee, with the exceptions stated in the fore-
going section; and it shall be the duty of the said preliminary trustee im-
mediately to cause notice to be transmitted by mail to each of the creditors
mentioned in the schedule, addressed to them at their respective places of
abode or of business, so far as mentioned in the schedule or known to him,
giving notice to such creditors of the pendency of proceedings in insolvency
in relation to the estate of the insolvent and requiring them to appear at
a place and time to be named not less than five nor more than ten days from
the mailing of the notices, to choose a permanent trustee for the estate of
such insolvent, and the place of meeting shall be in the county or city
in which the debtor resides, and said preliminary trustee shall cause like
notice to be given to all creditors generally of the insolvent by a notice in-
serted once in some newspaper in the county of the debtor's residence and
by two insertions in some daily newspapers published in the city of Balti-
more when the debtor is a resident of such city. At the time and place
named it shall be the duty of the clerk or deputy clerk mentioned in sec-
tions 20 and 21, and of the debtor and preliminary trustee to appear, and
the said clerk or deputy clerk shall preside at such meeting; thereupon the
creditors present having proved their claims in accordance with the rules
to be prescribed by the court as hereinafter provided shall proceed to the
election of a permanent trustee for said estate, and the person who shall
receive the votes of the greater number of said creditors and of those hold-
ing the greater amount of indebtedness shall be elected such permanent
trustee, subject, however, to the approval of the court or one of the judges
thereof, and if the creditors fail to attend or any person fails to obtain the
requisite majority of number and amount of creditors as before provided,
or if the person elected be in the opinion of the court an unsuitable person
to execute the duties of the office of trustee, the court shall appoint some
perspn to act as permanent trustee, and when such person shall be elected
and appointed as aforesaid or appointed by the court he shall give bond in
manner and form as hereinbefore provided with respect to the preliminary
trustee, and thereupon immediately upon the filing and approval of such
bond all said estate, property, rights and claims shall vest in such perma-
nent trustee, and such preliminary trustee, if he be a different person from
the permanent trustee, shall execute to him a deed of the same, and duly