USA > New York > New York City > Longworth's American almanack, New-York register, and city directory: for the year of American independence., 1801 > Part 9
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Sect. 29. And be it further enacted, That every perfon who fhall be chofen afsignee of the eftate and effects of a bankiupt, fhall at fome time after the expiration of four months, and wi hin twelve months from the time of iffuing the commission, caufe at leaft thirty days pub- lic notice to be given, of the time and place the commifsioners and af- figness intend to meet, to make a dividend or diftribution of the bank-
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rupt's eftate and effects ; at which time the creditors who have not before proved their debts, fhall be at liberty to provide the fame, and upon every fuch meeting, the afsignee or afsignees fhall produce to the com- mifsioners and creditors then prefent, fair juft accounts of all his or their receipts and payments, touching the bankrupt's eftate and effects, and of what fhall remain outftanding, and the particulars thereof, and fhall, if the creditors then prefent, or major part of them require the fame, be ex- amined upon oath or folemn affirmation before the fame commifsioners touching the truth of fuch accounts ; and in fuch accounts, the faid af- fignee or afsignees fhall be allowed and retain all fuch fum and fums of money as they fhall have paid or expended in fuing out and profecuting the commifsion, and all other juft allowances on account of, or by rea- fon or means of their being afsignee or afsignees, and the faid commif- fioner fhall order fuch part of the next produce of the faid bankrupt's eftate, as by fuch accounts or otherwife, fhall appear to be in the hands of the faidjafsignees, as they thall think fit to be forthwith divided among fuch of the bankrupt's creditors as have duly proved their debts under fuch commifsion, in proportion to their feveral and refpective debts, and the commifsioners fhall make fuch their order for a dividend, in writing, under their hands, and fhall caufe one part of fuch order to be filed amongft the proceedings under the faid commission, and fhall deli- ver unto each of the afsignees under fuch commission a duplicate of fuch their order, which order of diftribution fhall contain an account of time and place of making fuch order, and the fum total or quantuin of all the debts proved under the commission, and the fum total of the money remaining in the hands of the afsignee or afsignees to be divided, and how many per cent. in particular, is there ordered to be paid to every creditor of his debt; and the faid afsignee or afsignees, in purfuance of fuch order; and without any deed or deeds of diftribution to be made for the purpofe, fhall forthwith make fuch dividend and diftribution accord- ingly, and fhall take receipts in a book to be kept for the purpofe, from each creditor, for the part or fhare of fuch dividend or diftribution which he or they fhall make, and pay to each creditor refpectively : and fuch order and receipt fhall be a full and effectual difcharge to fuch afsignec for fo much as he fhall fairly pay, purfuant to fuch order as aforefaid ..
Sect. 30. And be' it further enacted, That within eighteen months next after iffuing the commifsion, the afsiguee or afsignees thall make a ferond dividend of the bankrupt's ettate and effects, in cafe the fame were not wholly divided upon the firft dividend, and fhall caufe the due public notice to be given of the time and place the faid commifsioners intend to meet, to make a fecond diftribution of the bankrupt's eftate- and effects, and for the creditors who fhall not before have proved their debts, to come in and prove the fame ; and at fuch meeting the faid af- fignees thall produce, on oath or folemn affirmation as aforefaid, their accounts of the bankrupt's eftate and effects, and what upon the balance thereof fhall appear to be in their hands, fhall by like order of the con- milioners, be forthwith divided amongft fuch of the bankrupt's credi- tors as fhall have made due proof of their debts, in proportion to their" feveral and refpective debts, which fecond dividend thall be final, unlefs
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any fuit at law, or equity be depending, or any part of the eftate ftanding out, that could not have been difpofed of, or that the major part of the creditors fhall not have agreed to be fold or difpofed of, or unlefs fome other or future eftate or effects of the bankrupt fhall after- wards come to, or reft in the faid afsignees, in which cafes the faid af- fignees shall, as foon as may be, convert fuch future or other eftate and effects into money, and shall, within two months after the fame, be con- verted into money, by like order of the commifsioners, divide the fame among fuch bankrupt's creditors as shall have made due proof of their debts under fuch commifsion.
Sect. 31. And be it further enacted, That in the diftribution of the bankrupt's effects there shall be paid to every of the creditors a por- tionate, according to the amount of their refpective debts, fo that every creditor having fecurity for his debt, by judgment, flatute, recognizance, or fpeciality, or having an attachment under any of the laws of the in- dividual flates, or of the United Sates, on the eftate of fuch bank upt, (provided there be no execution executed upon any of the real or per- fonal eftate of fuch bankrupt, before the time he or she became bank- rupts) shall not be relieved upon any fuch judgment, flatute, recogni- zance, fpeciality, or attachment for more then a rateable part of his debt, with the other creditors of the bankrupt.
Sect. 32. And be it further enacted, 'That the afsignets shall keep one or more distinct book or books of account, wherein he or they shall duly enter all fums of money or «ffects which he or they shall have received or got into his or their poffefsion of the faid bankrupt's cftate, to which books of account every creditor who shall have proved his or ber debt, shall, at all reafonable times, have free refort, and infrect the fame as often as he or she shall think fit.
Sect. 33. And be it further enacted, That every bankrupt not being in prifon or cuftody, shall at all times after his furrerder, Fe bound to attend the afsignees upon every reafonable notice, in writing, for that purpofe, given or left at the ufual place of his or her a bode, in order to afsill in making out the account of the faid bankrupt's eftate and effects, and to attend any court of record; to be examined touching the fame, or fuch other bufinefs as the faid afsignces shall judge neceflary ; for which he shall receive three dollars per day.
Sect. 34. And be it further enacted, That all and every perfon and perfons who shall become bankrupt as aforefaid, and who shall within the time limited by this act furrender him or herfelf to the commif- sioners, and in all things conform as in and by this act is directed, shall be allowed five per cent. upon all the nett produce of all the estate that shall be recovered in and received, which shall be paid unto him or her by the afsignee or afsignees, in cafe the nett produce of fuch eftate, after fuch allowance made, shall be fufficient to pay the creditors of faid bank- rupt, who shall have proved their debts under fuch commifsion, the amount of fifty per cent. on their faid debts reffectively, and fo as the f id five per cent. shall not exceed, in the whole, the fum of five hundred dollars ; and in cafe the nett produce of the faid eftate shall, over and above the allowance hereafter mentioned, be fufficienit to pay the credi-
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tors feventy-five per cent. on the amount of their faid debts refpectivel that then the faid bankrupt should be allowed ten per cent. on t amount of fuch nett produces to be paid as aforefaid, fo as fuch ten p cent. shall not, in the whole, exceed the fum of eight hundred dollar and every fuch bankrupt shall be difcharged from all debts by him her, due or owing at the time he or she became bankrupt, and all whic were or might have been proved under the faid commifsion, and in ca any fuch bankrupt shall afterwards be arrefted, profecuted, or impleader for or on account of any of the faid debts, fuch bankrupt may appe? without bail, and may plead the general iffue, and give this act and th fpecial matter in evidence ; and the certificate of fuch bankrupt's col forming, and the allowance thereof, according to the directions of th act, shall be allowed to be fufficient evidence prima facie of the party being a bankrupt within the meaning of this act, and of the commifsio. and other procedings precedent to the obtaining fuch certificate and verdict shall there upon pafs for the defendant, unlefs the plaintiff u fuch action can prove the faid certificate was obtained unfairly and by fraud, or unlefs he can make appear any concealment of eftate or effect by fuch bankrupt to the value of one hundred dollars : Provided, Tha no fuch difcharge of a bankrupt, shall releafe or difcharge any perfor who was a partner with fuch bankrupt, at the time he or she became bankrupt, or who was then jointly held or bound with fuch bankrupt to! the fame debt or debts from which fuch bankrupt was difcharged as aforefaid.
Sect. 35. Provided alway, and be it further enacted, That if the nett proceeds of the bankrupt's estate fo to be difcovered, recovered and re- ceived, shall not amount to fo much as will pay all and every of the cre- ditors of the faid bankrupt, who shall have proved their debts under the faid commission, the amount of fifty per cent, on their debts, refpectively, after all charges first deducted, that then, and in fuch cafe, the bankrupt shall not be allowed five per centum on fuch estate as shall not be re- covered in, but shall have and be paid by the afsignees fo much money as the commifsioners shall think fit to allow, not more than three hundred dollars, not exceeding three per centum on the nett proceeds of the faid bankrupt's estate.
Sect. 36. Provided alfo, and be it further enacted, that no perfon be- coming a bankrupt, according to the intent and provifions of this act, shall be entitled to a certificate of difcharge, or to any of the benefits of the act ; unlefs the commissioners shall certify under their hands, to the judge of the district within which fuch commission iffues, that fuch bank- rupt hath made a full difcovery of his or her estate and effects,and in all things conformed him or herfelf to the directions of this act, and that there doth not appear to them any reafon to doubt of the truth of fuch difcovery of the faid bankrupt's estate and effects; or unlet's the faid judge should be of opinion that the faid certificate was unreafonably de- nied by the commifsioners, or unlefs two thirds in number and in value of the creditors of the bankrupt who shall be creditors for not lefs than fifty dollars, refpectively, and who shall have duly proved their debts under the faid commission, shall fign fuch certificate to the judge, and
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atify their confent to the allowance for a certificate of difcharge, in :finance of this act ; which figning and confent shall allo be certified by je commifsioners; but the faid commissioners shall not certify the fame Il they have proof by affidavit or affirmation, in writing, of fuch cre- tors, or of the perfons refpectively authorifed for that purpofe, figning e faid certificate : which affidavit, or affirmation, together with the let- r or power of attorney to figh, shall be laid before the judge of the dif- ict within which fuch commission iffues, in order for the allowing the rtificate of difcharge ; and the faid certificate shall not be allowed un- Is the bankrupt make oath or affirmation, in writing, that the certifi- te of the commifsioners, and content of the creditors thereunto, were trained fairly and without fraud, and any of the creditors of the faid nkrupt are allowed to be heard, if they shall think fit, before the re- ecttive perfons aforefaid, against the making or allowing of fuch certi- ates by the commifsioners or judge.
Sect. 37. And be it further enacted, That if any creditor or pretend- creditor of any bankrupt, shall exhibit to the commifsioners any fic- ious or falfe debt or demand, with intent to defraud the real creditors fuch bankrup:, and the bankrupt shall refufe to make difcovery thereof, d fuffer the fair creditors to be impofed upon, he shall lofe all title to e allowance upon the amount of his effects, and to a certificate of dif- arge as aforefaid ; nor shall he be entitled to the faid allowance or cer- cate, if he has lost at any one time fifty dollars, or in the whole three udred dollars, after the pafsing of this act, and within twelve months fore he became a bankrupt, by any manner of gaming or wagering atever.
Sect. 38. And be it fu ther enacted, That if any bankrupt, who shall ve obtained this certificate, shall be taken in execution, or detained in fon, on account of any debts owing before he became a bankrupt, by fon that judgement was obtained before fuch certificate was allowed, shall be lawful for any of the judges of the court wherein judgement s fo obtained, or for any court, judge or justice within the district in ich fuch bankrupt shall be deta ned, having powers to award or allow : writ of habeus corpus, on fuch bankrupt producing his certificate fo aforefaid allowed, to order any sheriff or jailor who shall have fuch krupt in his custody, to difcharge fuch bankrupt without fee or charge, t giving reafonable notice to the plantiff, or his attorney, of the mno- n for fuch difcha ge.
Sect. 39. And be it further enacted, That every perfon who shall ve bona fide given credit to, or taken fecurities, payable at future days; in perfons who are or shall become bankrupt's, not due at the time of h perfon's becoming bankrupt, shall be admitted to prove their debts I contracts, as if they were payable prefently, and shall have a divi- d in proportion to the other creditors difcounting, where no interest payable, at the rate of fo much per centum per annum, as is equal the lawful interest of the state where the debt was payable; and the icee of any botomry or relpondentia bond, and the affured in any po- r of infurance, shall be admitted to claim, and after the contingency lofs, to prove the debt thereon, in like manner as if the fame had hap-
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pened before iffuing the commifsion ; and the bankrupt shall be dif charged from fuch fecurities, as if fuch money had been due and payable before the time of his or her becoming bankrupt; and fuch creditor: may petition for a commifsion, or join in petitioning.
Sect. 40. And be it further enacted, That in cafe any perfon com. mitted by the commifsioners warrant, shall obtain a habeus corpus, it order to be difcharged, and there shall appear any infufficiency in the form of warrant, shall be lawful for the court or judge before whom fuch party shall be brought by habeus corpus, by rule or warrant, to com. mit fuch perfon to the fame prifon, there to remain until he shall con form as aforefaid, unlef's it shall be made to appear that he had fully anfwered all lawful queftions put to him by the commifsioners ; or ir cafe fuch perfon was committed for not ligning his examination, unlef: it shall appear that the party had good reafon for refufing to figu the fame, or that the commifsioners had exceeded their authority in making fuch commitment, and, in cafe the jailor to whom fuch perfon shall be committed, shall wilfully or negligently fuffer fuch perfon to efcape, o? to go without the doors or walls of the prifon, fuch jailor shall for fuck offence, being cenvicted thereof, forfeit a furn not exceeding three thou fand dollars, for the ufe of the creditors.
Sect. 41. And be it further enacted, That the jailor shall, upon the request of any creditor, having proved his debt, and shewing a certificate theroof, under the hands of the commiffioners (which the commifsioner fhalt give without fece or reward) produce the perfon fo committed, and in cafe fuch jailor fhall refufe to thew fuch perfon to fuch creditor, re queiting the fame, fuch perfon fhall be confidered as having efcaped, and the jador or theriff fo retufing, fhall be liable as for a wilful efcapc.
Sect. 42. Ana be it further enacted, That where it shall appear to the fa d cun nilsioners that there hath been mutual credit given by the bankrupt, and any other perfon, or mutual debts between them at any tine before fuch perfon became bankrupt, the affignee or affignees of the eftatc, fh il flate the account between them, and one debt may be fet of againft the other, and what shall appear to be due on either fide, on the balance of fuch account, after fuch fet off, and no more, shall be claimed or paid on either fide reffectively.
Sect. 43. And be it further enacted, That it shall and may be law ful to and for the afsignee or afsignees of any bankrupt's eftate and ef felts under the direction of the commifsioners, and by and with the con fent of the major part in value of fuch of the faid bankrupt's creditors a shall have duly proved their debts under the commifsion, and shall bi prefent at any meeting of the faid creditors, to be held in purfuance o due and public notice for that purpofe given to fubmit any difference o difpute, for, on account of, or by reafon or means of, any matter, cauf or thing, whatfoever, relating to fuch bankrupt, or to his or her eftat or effects, to the final end and determination of arbitrators, to be choler by the fa'd commissioners, and the major part in value of fuch credi tors, as shall be prefent at fuch meeting as aforefaid and the party o parties with whom they shall have fuch difference or difpute, and to per form the award of fuch arbitmtors, or otherwife to compound and agre
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the matter in difference or difpute as aforefaid, in fuch manner as the wid afsignee or afsignees, under the direction and with the content afore- faid shall think fit and can agree, and the fame shall be binding on the feveral creditors of the faid bankrupt, and the faid afsignee or afsignecs are hereby indemnified for what they shall fairly do according to the directions aforefaid.
Sect. 44. And be it further enacted, That the afsignees shall be ard hereby are yefted with full power to difpofe of all the bankrupt's eftate real and perfonal at public auction or vendue, without being fubject to any tax, duty, impofition, or reftriction, any law to the contrary notwithftanding.
Sect. 45. And be it further enacted, That if after any commission of bankruptcy, fued forth, the bankrupt happen to die, before the commifsioners shall have diftributed the effects, or any part thereof, the commifsioners shall, neverthelefs, proceed to execute the commifsion, as fully as they might have done if the party were living.
Sect. 46. And be it further enacted, That where any commifsion of bankruptcy shall be delivered to the commifsioners, therein named to be executed, it shall and may be lawful for them before they take the oath or affirmation of qualification, to demand and take from the credi- tor or creditors, profecuting luch commission, a bond, with one good fecurity, if required, in the penalty of one thousand dollars, conditioned for the payment of the coffs charges and expences, which thall arife and accrue upon the profecution of the faid commillion, Provided always, That the expences, fo as aforefaid to be fecured and paid by the petition- ing creditor or creditors, fhall be repaid to him or them by the commit's fioners or afsignice, out of the first monies arifing from the bankrupt's ellate or effects if fo much be received therefron.
Sect. 47. And be it further enacted, That the diftrict judges, in each diftrict retpectvely, fhall fix a rate of allowance, to be made to the commifsioners of bankruptcy, as compenf .: tion of fe: vices to be rendered under the commiffion, and it thall be lawful for any creditor, by petition to the diftrict judge, to except to any charge contamed in the account of the commifsioners : and the faid judge, after hearing the conimifsioners, may in a fummary way decide upon the validity of fuch exception.
Sect. 48. And be it further enacted, That all penalties given by this act, for the benefit of the creditors, thall be recovered by the afsignce or uisignees by action of debt, and the money lo recovered, the charges of fait being deducted, thal be diftributed towards payment of the creditors.
Sect. 49. And be it further enacted, That if any action fhall be brought againit any commissioner or afsignee, or other perich having authority under the comifsion for any thing done or performed by force of this net, the defendant may plead the genc. al iffue, and give this act and the fpecial matter in evidence, and in cafe of a Roufuit, difcon- tinuance or verdict, or judgment for him, he fhall recover double coffs.
Sect. so. Anu be it further enacted, That if any cffate real or per- fna! thall defcend, revert to or become vefted in any perfon after he or the fhall be declared a bankrupt, and before he er the fall obtain a cer- tificate ligned by the judge as aforefaid, all fuch eftate, fhall, by virtue of
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this act, be vefted in the faid commifsioners, and fhall be by them as- figned and conveyed to the afsignee or afsignees, in fee fimple, or other- wife, in like manner as above directed with the eftate of the faid bankrupt, at the time of bankruptcy, and the proceeds thereof fhall be divided among the creditor .
Sect. 51. And be it further enacted, That the faid commifsioners fhall once in every year, carefully file in the clerk's office of the dillrict court, all the proceedings had in every cafe before then, and which fhall have been finilhed, including the commifsions, examination, dividends, entries, and other determinations of the faid commissioners, in which office the final certificate of the faid bankrupt may alfo be recorded : all which proceedings fhall remain of record in the faid office, and certified copies thereof fhall be addmitted as evidence in all courts, in like manner as the copies of the proceedings of the faid diftrict court are admitted in other cafes.
Sect. 52. And be it further enacted, That it fhall and may be law- ful for any creditor of fuch bankrupt, to attend all or any of the exami- nations of faid bankrupt, and the allowance of the final certificate, if he fhall think proper, and then and there to propofe interrogatories, to be put by the judge or commifsioners to the faid bankrupt and others, and alfo to produce ,and examine witnelles and documents before fuch judge or commifsioners, relative to the fubject matter before them. And in cafe either the bankrupt or creditor shall think him or herfelf aggrieved by the determination of the faid judge or commissioners, relative to any material form in the commencement or progrefs of the faid proceedings, or in the allowance of the certificate aforefaid, it shall and may be law- ful for either party to petition the faid judge, fetting forth fuch facts and the determination thereon, with the complaint of the party and a prayer for trial by a jury to determine the fame ; and the faid judge shall in his difcretion, make order thercon, and award a venire facias to the marthal of the diftrict, returnable within fifteen days before him, for the trial of the facts mentioned in the faid petition, notice whereof fhall be given to the commifsioners and creditors concerned in the fame, at which time the faid trial fhali be bad, unlefs on good caufe thewn, the judge fhall give farther time, and judgment being entered on the ver- dict of the jury, fhall be final on the faid facts, and the judge or com- mifsioners thall proceed agrecably thereto.
Sect. 53. And be it further enacted, That the commissioners, before the appointment of afsignees, and the afsignees, after fuch appointment, may, from time to time, make fuch allowance out of the bankrupt's eftate until he fhall have obtained his final difcharge, as in their opinion may be requifite for the neceffary fupport of the faid bankrupt and his family.
Sect. 54. And be it further enacted, That it fhall be lawful for the major part in value of the creditors, before they proceed to the choice of affignees, to direct in what manner, with whom, and where the monies arifing by, and to be received from time to time out of the bankrupt's eftate, fhall be lodged, until the fame fhall be divided among the ciedi-
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tors as herein provided, to which direction every fuch afignee and af- fignees fhall conform as often as three hundred dollars fhall be received.
Sect. 55. And be it further enacted, That every matter and thing by this act required to be done by the commifsioners of any bankrupt, fhall be valid to all intents and purpofes, if performed by a majority of them.
Sect. 56. And be it further enacted, That in all cafes where the af- fignecs fhall profecute any debtor of the bankrupt for any debt, duty or demand, the commission, or a certified copy thereof, and the afsignment of the commifsioners of the bankrupt's eftate fhall be conclufive evidence of the ifluing the commifsion, and of the perfon therein being a trader and bankrupt, at the time mentioned therein.
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