Page:United States Statutes at Large Volume 18 Part 1.djvu/1059

 'l`rrLa r.x1.—BANKRUPFC\’.—C11. 5-t}. 987 the creditor before the granting of the dischar e, judgment shall be rendered in favor of the ankrupt, and the valichty of his discharge .shall not be affected by the proceedings. CHAPTER SIX. PROCEEDINGS PECULIAR. T0 PARTNEBSHIPS AND CORPORATIONS. Sec. Sec. 5121. Bankruptcy of partnerships. 5123. Authority of State courts in proceed- 5122. Of corporations and joint-stock com- ings against corporations. @Il\€S. Sec. 5121. \Vhere two or more persons who are partners in trade are Bankruptcy of adjudged bankrupt, either on the petition of such partners or of any one P=¤¤¤¢’1‘¤h1x>¤· of them, or on the petition of any creditor of the partners, a warrant shall T R1-_, 1867, c_ issue, in the manner provided by this Title, upon which all the joint stock 176, s- 36. v. 14, p. and property of the copartnership, and also all the separate estate of each of the partners, shall be taken, excepting such parts thereof as are Mead --. National herein before excepted. All the creditors of the company, and the se - B vv k; & v-. 6 rate creditors of each partner, may prove their respective debts. The glatfhrllghi IZ} "€ assignee shall be chosen bv the creditors of the com ny. He shall I,;°,¥;fg“.;S°§jgg?,(?’ keep separate accounts of the joint stock or property oimthe copartner- 96; In re Ilinie, 2 ship an of the separate estate of each member thereof; and after de- Bw-. 186; JM rv ducting out of the whole amount received by the assignee the whole of ghhckhh  }‘l·· 2 the expenses and disbursements, the net proceeds of the joint stock Fgggésqgén gag? shall be appropriated to pay the creditors of the co rtnership, and the In ra Pmnkaid, i net procee s of the separate estate of each partner shhll be a propriated Bank- Beg-,51; In to pay his separate creditors. If there is any balance of the se rate '“ Ahh? 2 h“hl‘· _ . _ Reg.,26, In TCW1I' estate of any partner, after the pay ment of his separate debts, sndhibal- kms 2B,mk Reg ance shall be added to the joint stock for the payment of the joint cred- 113;,1n rc Lielick; itors; and if there is any balance of the joint stock after payment of the 4 Bank- Beg-; 26; joint debts, such balance shall be appropriated to and divided among gg H°‘;“;,·C°L° the separate estates of the several partners according to their respective RB;]85. fun,,;, right and interest therein, and as 1t would have been if the partnership Pe¤n;.5Ba.nk.Reg., had been dissolved without any bankruptcy: and the sum so appropr1— 30; IM re Stevens, ated to the separate estate of each partner shall be applied to the pay- ih““kLRf?··(}l2g ment of his separate debts. The certificate of discharge shall be granted  R;g‘l°2é2, or refused to each partner as the same would or ought to be if the pro- Inre Isaacsrtbohn: ceedings had been against him alone. In all other respects the proceed- 6 Bank- Beg; 92; ings against partners shall be conducted in the like manner as if they A"¥”"“`k ééW°'j{'· had been commenced and prosecuted against one person alone. If such ;'$¥m;$’,., Hswf copartners reside in different districts, that court in which the petition Clap, 2 Low., 168; is first filed shall retain exclusive jurisdiction over the case. gtmrv mlletm €S, Vi'., Q In re Sectional Dock Company, 3 Dill., 83; In re Handliu, 3 Dill., 290; Chandler 1-. Siddle, 3 Dill., 477; In re Moore, 5 Biss., 79; In re Hartshorn & Batchelor, 2 Woods, 73; gi re Sghgnahan dr West, 6 Biss., 39; In rc McEwen, 6 Biss., 294; In rc Roddiu et als., 6 iss., 7. Sec. 5122. The provisions of this Title shall apply to all moneyed Of qorjporations business or commercial corporations and joint-stock companies, and upon {gg l‘?"‘t‘”*°"l* the petition of any officcr of any such corporation or company, duly au- $'-_pl"B$€;_- thorized by a vote of a majority of the corporators at any legal meeting rg Mu'}- WBT- <'· called for the purpose, or upon the petition of any creditor of such cor- 5,35; S` 3" " 14* h' poration or company, made and presented in the manner provided in ~ --T - respect to debtors, t IC like proceedings shall be had and taken as are  E;:" provided in the case of debtors. All the provisions of this Title which R_ R_'(_—_,__ I #1,,,,,; a ply to the debtor, or set forth his duties in regard to furnishing sched- R4·¤.,19¢s; 1.- ;·/1*he ul)es and inventories, executing papers, submitting to examinations, dis- l-¤<ly_l*rym¤ Minclosing, making over, secretmg. concealing. conveying, assigning, or g‘§n&"‘;;l;_*"’l'§6‘i ying away his money or property. shnll in like manner. and with like A,`,,",,, ,._ é,,},,,;,,,: iiilrce, effect, and penalties, apply to each and every officer of such cor- am., R. R. (*6., 4