Chapter 157. relative to voluntary assignments by debtors for the benefit of creditors, in the District of Columbia, anil to amend section seven hundred and eighty-two of the Revised Statutes of the United States, relating to the District of Columbia
511 words·~2 min read·
/statutes-at-large/vol-27/chapter-157-1982948·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
CHAP. 157.— An Act relative to voluntary assignments by debtors for the benefit of creditors, in the District of Columbia, anil to amend section seven hundred and eighty-two of the Revised Statutes of the United States, relating to the District of Columbia.February 24, 1893. *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*,Assignments by debtors. D. C. That in all cases of voluntary assignments hereafter made in the District of Columbia for the benefit Inventory of property and list of creditors to be filed.of creditor or creditors, the debtor or debtors shall annex to such assignment an inventory, under oath or affirmation, of his, her, their, or its estate, real and personal, according to the best of his, her, their, or its knowledge, and also a list of his, her, their, or its creditors, their respective residences and places of business, if known, and the amount of their respective demands; but such inventory shall not be conclusive Title to vest in assignee.as to the amount of the debtors estate, but such assignment shall vest in the assignee or assignees the title to any other property except legal Legal exemptions.exemptions, where legal exemptions are reserved by the deed of assignment, belonging to the debtor or debtors at the time of making the assignment and comprehended within the general terms of the same.
Assignee to be a resident.The assignee in every such assignment shall be a resident of the District. and every such assignment shall be duly acknowledged and recorded in the land records of the District of Columbia. SEC. 2. Record.Preferences void. That every provision in any assignment hereafter made in the District of Columbia providing for the payment of one debt or liability in preference to another shall be void, and all debts and liabilities within the provisions of the assignment shall be paid pro rata from the assets thereof.
Sec. 3. Equity proceedings to attack assignments. That any creditor of an assignor may proceed in equity to attack the assignment as made to hinder, delay, or defraud the creditors of the assignor, without first reducing his, her, their, or its debt or claim against the assignor to judgment at law. and may in such equity proceeding prove that he, she, they, or it is or are a creditor or creditors and as such entitled to relief. Sec. 4. Writs of attachment. That section seven hundred and eighty two of the Revised Statutes of the United States, relating to the District of Columbia, be, May issue in cases of fraudulent assignments.[R.
S. D. C., sec. 782, p. 93](/us/rs/dc/s782/p93).and the same is hereby, amended as follows: After the words “Third, that he has removed, or is about to remove, some of his property from the District, so as to defeat just demands against him.” the following words are hereby inserted, to wit: “or has assigned, disposed of, or secreted, or is about to assign, dispose of, or secrete property with intent to hinder, delay, or defraud his creditors.” Approved, February 24, 1893.