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Session Laws, 1854
Volume 616, Page 248   View pdf image
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T. WATKINS LIGON, ESQUIRE, GOVERNOR.

248

SEC. 6. And be it enacted, That the discharge of
any person under this act, is not to release any other
person who may be liable as endorser, surely or other-
wise.

Persons to be
released.

SEC. 6. And be it enacted, That no person shall be
released or discharged under this act who has conveyed,
concealed or disposed of his property to defraud or delay
his creditors, or prevent the same from being applied to
the payment of his debts, or who has within one year
of the time of filing his petition, by the conveyance,
or assignment, of his property, or debts, or claims, or
payment of money, given an undue and improper pre-
ference to any of his creditors.

Person not to
be released
who has con-
veyed pro-
perty, &c.

SEC. 7. And be it enacted, That any confession of
judgment, and any conveyance or assignment, made
by any insolvent under this act, for the purpose of de-
frauding his creditors or giving an undue preference,
shall be void, and the property or thing conveyed or
assigned shall vest in the trustee, and that all acts done
by a petitioner before his application, when he shall
have had no reasonable expectation of being exempted
from liability or execution, on account of bis debts or
responsibilities without petitioning for the benefit of the
insolvent laws, shall be deemed to be within the mean-
ing and purview of this section.

Defrauding

creditors.

SEC. 8. And be it enacted, That any judgment or
decree confessed to give an undue preference to any
creditor, or for the purpose of defrauding any creditor,
shall be void and excluded in the distribution under this
act.

Undue prefer-
ence.

SEC. 9. And be it enacted, That any creditor who
shall collude with the insolvent to make his claim ap-
pear larger than it justly is, shall forfeit his whole claim
for the benefit of the other creditors.

Forfeiture of
claim.

SEC. 10. And be it enacted, That the estates of in-
solvents shall be distributed under the orders of the
court, according to the principles of equity, and no cre-
ditor shall acquire a lien by fieri facias or attachment,
unless the same be levied before the filing of the peti-
tion.

Distribution
of estate.

SEC. 11. And be it enacted, That the said courts or
the [or the] judges thereof, in the recess, may remove
any trustee for misconduct, or may, at discretion, dis-
charge a trustee who applies to be discharged.

Court may re-
move trustee.



 
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Session Laws, 1854
Volume 616, Page 248   View pdf image
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