Pennsylvania Act 1818-154 — ACCOUNTS ASSIGNEES TO SETTLE

Act text

ACCOUNTS ASSIGNEES TO SETTLE
                 Act of Mar. 24, 1818, P.L. 285, No. 154              Cl. 39
                                  AN ACT

     To compel assignees to settle their accounts and for other
        purposes.
        Section 1.  Citation to settle accounts; exhibition of
     account., interrogatories; distribution
        In all cases where any person or persons have heretofore made
     or executed, or hereafter may make or execute any voluntary
     assignment of his, her or their estate, real, personal or mixed,
     or any part thereof, to any person or persons in trust for the
     use of his, her or their creditors, or in trust for the use of
     such person or persons to whom such assignment may be so made
     and the other creditors of such assignor, it shall and may be
     lawful for the court of common pleas of the proper county, and
     they are hereby authorized and required on the application of
     any of the creditors of such assignor at any time after two
     years from the time such assignment shall have been made, to
     issue a citation to such assignee or assignees commanding him,
     her or them to appear at a time to be appointed by the court and
     settle his, her or their account, exhibiting a statement of the
     amount of the estate thus assigned to him, her or them, and the
     manner he, she or they have disposed of the same, which account
     shall be exhibited on oath or affirmation as aforesaid., and the
     said assignee or assignees shall be compelled to answer upon
     oath or affirmation all interrogatories which shall be exhibited
     to him, her or them in Open Court on the examination of his, her
     or their account; and the Court shall have power to decree a
     distribution of the proceeds of such estate agreeably to the
     intention of such assignment, after allowing such assignee or
     assignees such pay or commission for his, her or their trouble
     and services as the said court in their discretion may think
     reasonable.  1818, March 24, P.L. 285, 7 sm.1. 131, Sec. 1.
        Section 2.  Attachment and sequestration for neglect or
     refusal to settle accounts
        If any person or persons being duly cited as aforesaid to
     appear at any of the Courts of Common Pleas of the proper county
     thirty days before the time appointed for his, her or their
     appearance, shall neglect or refuse to attend to settle their
     accounts as aforesaid, or show reasonable cause why such
     accounts cannot be settled, the Judge or Judges of the said
     Court may send their attachment or attachments for contempt and
     may enforce obedience to such citation or order by sequestration
     of lands or goods, as fully as any Court of Equity may or can
     do.  1818, March 24, P.L. 385, 7 sm.1. 131, Sec. 2.
        Section 3.  On settling acCounts, court may compel payment to
     creditors
        On its appearing satisfactorily to the Court that the person
     or persons so as aforesaid appointed assignee or assignees, have
     justly and properly accounted for and apportioned the estate
     thus assigned to him, her or them, the said Court is hereby
     authorized and empowered to compel the payment of the respective
     proportions to the creditors of such assignor, who are legally
     entitled thereto, by attachment.  1818, March 24, P.L. 285, 7
     sm.1. 131, Sec. 3.
        Section 4.  Proceedings in case of assignee's insolvency or
     mismanagement
        When an assignee or assignees under either a voluntary or
     compulsory assignment heretofore made or executed, or hereafter
     to be made or executed, are made to appear on oath or
     affirmation to the court of common pleas of the proper county to
     be in failing or insolvent circumstances, or are about to remove
     or are wasting or mismanaging the estate committed to their
     care, or are neglecting to perform the duties of the trust thus
     reposed in them, the said Court shall issue a citation
     returnable before them at such time as to them may appear proper
     and just, not exceeding twenty days, and at the return thereof
     or at such other time as the said court may think the necessity
     of the case may require to hear the same, and either to dismiss
     the complaint or direct security or surety to be given by the
     said assignee or assignees for the faithful performance of the
     trust, or to dismiss all or any of the said assignees and
     appoint another or others in his or their stead, and to order
     and direct all books, papers, monies or estate which appear to
     be in the hands of such dismissed assignee or assignees, to be
     delivered and assigned over to such other person or persons as
     the court may appoint, and shall have power to carry into effect
     their decrees or orders by attachment against the body or
     bodies, or sequestration of the lands or goods of such
     delinquent or delinquents.  1818, March 24, P.L. 285, 7 sm.l.
     131, Sec. 4.
        Section 5.  Assignments to be recorded within thirty days
        All assignments so as aforesaid to be made and executed,
     which shall not be recorded in the Office for Recording of Deeds
     in the county in which such assignor resides, within thirty days
     after the execution thereof, shall be considered null and void
     as against any of the creditors of the said assignor.  1818,
     March 24, P.L. 285, 7 sm.1. 131, Sec. 5.
        Section 6.  Extension of act to trustees and assignees
     judicially appointed for insolvent debtors
        All the provisions of the first, second, third, and fourth
     sections of this act be and the same are hereby extended to the
     trustee or trustees, assignee or assignees, appointed by the
     Courts of this Commonwealth under such Acts of Assembly as are
     now or hereafter may be passed for the relief of insolvent
     debtors.  1818, March 24, P.L. 285, 7 sm.1. 131, Sec. 6.
        Section 7.  (7 repealed Apr. 28, 1978, P.L.202, No.53)

        Section 8.  And be it further enacted by the authority
     aforesaid, That the act, entitled "An act to oblige the trustees
     and assignees of insolvent debtors to execute their trusts,"
     passed the twenty-second of January one thousand seven hundred
     and seventy-four, be, and the same is hereby repealed.