the creditors to appear before the Judge at chambers or in open Court within 30 days from the date of publication, to show cause why the petition should not be granted; meantime all proceedings against the insolvent are stayed, which does not, however, prevent the appointment of a receiver by the Judge to take possession of all the insolvent's property; provided, one or more of his creditors shall show cause therefor by preliminary affidavit, and satisfactory proof of the facts on which it is founded.

At the creditors' meeting they first certify "on oath that their respective claims are legitimate and true," and then appoint one or more assignees, not exceeding three. In appointing assignees, "the opinion of the majority of said creditors, in sums or in claims, shall prevail," and any creditor may be represented by his "duly authorized agent or attorney."

When the assignee or assignees have been appointed, and the surrender of the property accepted of, the assignees file in the Clerk's office " a certified statement of the deliberations of said creditors on the appointment of said assignees," and they shall give bond in such sum as the majority of the creditors may have determined; or if they have not fixed on any amount, the Judge shall determine it.

The insolvent's property is sold at public auction by the assignees, on twenty days' notice by publication in a newspaper of the county, or if none, in the one nearest thereto. Perishable property may be sold on five days' notice.

The assignees (if more than one) shall deposit all funds "belonging to the failure" in their joint names, and they shall never be used, loaned, or mixed with the personal affairs of the assignees, and are distributed according to the directions of the Court; they may sue or be sued in respect to the insolvent or his creditors, and all suits against the insolvent shall be transferred to the Court having jurisdiction of the insolvency.

Whenever a dividend shall be declared the assignee shall make out a statement containing the names of the several creditors, the amounts due them, and pro rata sums to be divided among all creditors. Any creditor may make a motion,

at any time, to know if the assignees have funds in their hands, and they shall, if they have, be compelled to present their accounts and make distribution; or, if they neglect to do so, shall be removed by the Judge or Court, and others may be appointed by said Judge or Court. In that event the former assignees forfeit all claim to any commission, and pay twenty per cent. in addition to the amount of funds in their hands as a penalty.

If at time for meeting of creditors they do not attend, or refuse to appoint an assignee, the Court may appoint the Sheriff of the county to receive the surrender of the property.

The assignees collectively receive ten per cent. on a sum not exceeding $10,000; eight per cent. on sums above $10,000, and not exceeding $30,000; six per cent. on sums above $30,000, and not exceeding $60,000; and four per cent. on sums exceeding $60,000. Such commissions shall be allowed on such sums as come actually in their hands, or are distributed by them.

If, after the appointment of assignees, any one of the creditors deems it necessary to oppose the assignment on account of fraud of the insolvent, or the assignment not having been legally made, he shall, within ten days after the appointment, lay before the Judge or Court his written opposition, specifying the facts on which it is based, and in case of fraud, a trial is had before a jury of six men, at which the objecting creditor "shall have the right to interrogate the insolvent debtor on "oath, and put to him such written questions as to the state of "his affairs, and the several transactions in which he may have "been engaged anterior to his failure, as he shall think proper, "and the insolvent shall answer in writing the said interroga"tories in a pertinent and distinct manner, and every equivocal "answer on his part shall be construed against him." If the jury find the insolvent guilty of fraud, he shall forever be debarred from the benefit of the insolvent laws.

All persons shall be considered as "fraudulent bankrupts" who shall be convicted of having concealed their property with the intention to keep it from their creditors; or of having concealed or altered their books or papers with like intention; or of having passed sham deeds with intent to deprive

their creditors of the whole or any part of their property; or of intentionally omitting any of his property from his schedule; or of having purloined his books or any of them; or of having altered, changed, or made them anew with intent to defraud his creditors; or of having fraudulently alienated, mortgaged, or pledged any of his property; or of having “com"mitted any other kind of fraud to the prejudice of his credi"tors."

The insolvent shall be debarred from the privileges of the act, if he shall be convicted of having at any time within three months preceeding his failure, "fraudulently sold, engaged or "mortgaged any of his goods or effects, or of having otherwise "assigned, transferred, or disposed of the same, or any part "thereof, or confessed judgment in order to give a preference to "one or more of his creditors over others" (whereby to receive any advantages in anticipation of his failure) to the prejudice of his creditors.

All debtors insolvent accountable for public funds, all "unfaithful depositeries," all who refuse or neglect to pay all funds received by them as bankers, brokers, commission merchants, or in any fiduciary capacity, are denied the benefits of the Act.

The insolvent must give a just and true account of property sold or transferred, and money collected after presentation of his petition, and pay the same over to the assignees within ten days after their appointment and demand made by them, otherwise said debtor shall not receive the benefit of the insolvent law.

If, after the insolvent has had the benefit of the Act, it be made thereafter to appear that he has concealed any part of his property or estate, or given a false schedule, or committed any fraud under the provisions of the Act, he forfeits all its benefits, and cannot "avail himself of any of its provisions in "bar to any claim that may be instituted against him."

After the surrender of the property of the insolvent it vests in the assignees.

The insolvent must surrender to the assignees all the

property contained in his schedule; if not, the Judge shall order the sheriff to take the property and deliver it to the assignees, or may imprison the insolvent till he surrenders it.

The assignees shall make out and verify an account of their disbursements, which, if approved, the Judge shall certify, and allow the amount thereof out of the insolvent's property.

A member of a firm may make an assignment of co-partnership property with the consent in writing of the other members; when all join they may include in the assignment all their individual as well as partnership property, and may be discharged from both classes of debts in the same proceeding, but partnership property shall be applied to partnership debts, and individual property to individual debts. No assignment shall be legal or binding upon creditors other than provided as above.

In case the insolvent debtor has no property to surrender, or the appraised value of the property mentioned in his schedule does not exceed one-third of his debts then existing and contracted during the year next preceding, he shall not have the benefit of the insolvent law, unless it be proven by affidavit of two credible and disinterested witnesses, that the debtor, in their opinion, has really experienced the losses by him stated, and that the said losses have reduced him to the position in which he finds himself.

All legal mortgages and bona fide liens existing on the property at the time the surrender is made shall remain good and valid.

CHAPTER XXVIII.

ALIENS.

Aliens cannot hold lands in this State, unless they have in good faith declared their intention to become citizens of the United States, except where acquired by inheritance, under mortgage, or in good faith in the ordinary course of justice in

the collection of debts. But it shall not apply to lands containing valuable deposits of minerals, metals, iron, coal or fireclay, and the necessary land for mills and machinery to operate them. A corporation is an alien under this section, if the majority of the capital stock is owned by aliens. (Const. Art. II Sec. 33.)