Page:United States Statutes at Large Volume 30.djvu/596

 FIFTY-FIFTH CONGRESS. Sess. Il. Ch. 541. ‘1898. 557 . c The book or books containing a record of the proceedings shall, —¢miii¤¤*·>· when the case is concluded before the referee, be certified to by him, and, together with such papers as are on file before him, be transmitted —tr¤ns¤·¤i¤¤i<>¤ to to the court of bankruptcy and shall there remain as a part of the °°"'°°"’““k’“*'”°’· records of the court. Sec. 43. Rnrnuimrs Ansmzon on DISABILITY.—3l Whenever the .R¤fs¤r¤¤’¤ ==¤1>¤<>¤¤<> or office of a referee is vacant, or its occupant is absent or disqualiiied to dmbmm act, the judge may act, or may appoint another referee, or another ‘ referee holding an appointment under the same court may, by order of ‘ the judge, temporarily fill the vacancy. Sec. 44. Arrornrmnnr OF Tans·rEEs.—a The creditors of a bank- T¤¤¤;<><>¤· rupt estate shall, at their iirst meeting after the adjudication or after a `aPp°m°m°°t °£ vacancy has occurred in the omce of trustee, or after an estate has been reopened, or after a composition has been set aside or a discharge revoked, or if there is a vacancy in the office of trustee, appoint one trustee or three trustees of such estate. If the creditors do not appoint a trustee or trustees as herein provided, the court shall do so. Sec. 45. Qoarmroyrions or TRUsrnEs.—a Trustees may be (1) —q¤¤¤ii¤=*i¤¤¤ ¤¤ individuals who are respectively competent to perform the duties of that office, and reside or have an office in the judicial district within which they are appointed, or (2) corporations authorized by their charters or by law to act in such capacity and having an omce in the judicial district within which they are appointed. Sec. 46. Dinrn on Rnzuoviu. or TnUsrnns.—a The death or —"°“°*‘°’ '°“‘°“‘*· removal of a trustee shall not abate any suit or proceeding which he is prosecuting or defending at the time of his death or removal, but the same may be proceeded with or defended by his joint trustee or successor in the same manner.as though the same had been commenced or was being defended by such joint trustee alone or by such successor. . Sec. 47. Durrms or Tnuscrnns.-a Trustees shall respectively (1) —d¤¤¤¤¤P°·=i°¤·l· — account for and pay over to the estates under their control all interest received by them upon property of such estates; (2) collect and reduce to money the property of the estates for which they are trustees, under the direction of the court, and close up the estate as expeditiously as is compatible with the best interests of the parties in interest; (3) deposit all money received by them in one of the designated depositories; (4) disburse money only by check or draft on the depositories in which it has been deposited; (5) furnish such information concerning the estates of which they are trustees and their administration as may be requested by parties in interest; (6) keep regular accounts showing all amounts received and from what sources and all amounts expended and on what accounts; (7) lay before the final meeting of the creditors detailed statements of the administration of the estates; (8) make final reports and tile iinal accounts with the courts iitteen days before the days fixed for the unal meetings of the creditors; (9) pay dividends within ten days after they are declared by the referees: (10) report to the courts, in writing, the condition of the estates and the amounts of money on hand, and such other details as may be required by the courts, within the first month after their appointment and every two months thereafter, unless otherwise ordered by the courts; and (11) set apart the bankrupt’s exemptions and report the items and estimated value thereof to the court as soon as practicable after their appointment. b Whenever three trustees have been appointed for an estate, the Coupupence ofycwc concurrence of at least two of them shall be necessary to the validity §’Q§§,,§§,Q,Y°° "““ “ of their every act concerning the administration of the estate. _ Sec. 48. Oomrnusmriom or TnusrEEs.——a Trustees shall receive, as "°‘°P°°°““°“· full compensation for their services, payable after they are rendered, a _ fee of five dollars deposited with the clerk at the time the petition is ·***°*- filed in each case, except when a fee is not required from a voluntary _ _ bankrupt, and from estates which they have administered, such com- —<=°¤¤¤*¤¤*°¤°— missions on sums to be paid as dividends and commissions as may be allowed by the courts, not to exceed three per centum on the iirst five ' thousand dollars or less, two per centum on the second five thousand _,