Page:United States Statutes at Large Volume 47 Part 1.djvu/1001

 72d CONGRESS. SESS. II. CH. 127 . FEBRUARY 27, 1933 . 977 suc h objection sha ll sp ec ify the judgment creditor's estimate of the market value of the property claimed. Such written objection shall be served up on the person, partnership, corporation, or association giving such undertaking and claiming the property therein described. SEC. 383. CLAIM OF PROPE RTY ; JUST IFICA TION, APPR OVAL, AND DIS- Justification, approv- APPRovAL.--When the sureties, or either of them are objected to, the 1 . and disapproval. surety or sureties so objected to shall justify before the court out of which such execution issued, upon ten days notice of the time when they will so justify being given to the judgment debtor or his attor- ney. Upon the hearing and examination into the sufficiency of s surety, witnesses may be required to attend and evidence may be procured and introduced in the same manner as in trial of civil cases. Upon such heari ng and exa minat ion, the c ourt shall make its order, in writing, approving or disapproving the sufficiency of the surety or sureties on such undertaking. In case the court dis- approves of the surety or sureties on any undertaking, a new under- taking may be filed and served, and to any undertaking given under the provisions of sections 379 to 386, the same objection to the sure- ties may be'made and the same proceedings had as in case of the first undertaking riled and served. SE C. 384. CLA IM OF PROPE RTY ; UNDE RTAKI NG, E STIMA TE OF VALUE. Undertaking, est i. AND NEW UNDERTAKINGS .-When ob j ection is made to the undertak- unde t of va akings. and new ing upon the ground that the estimated value of the property •dertakiogs cla ime d, as stated in the undertaking, is l ess t han the market val ue of the pro perty clai med, the p erson , cor porat ion, partn ershi p, or assoc iatio n may acce pt the est imate d val ue st ated by the jud gment cre di tor in said objection, and a new undertaking may be at onc e filed with the judgm ent c redit or's estim ate s tated ther ein as the estimated value, and no objection shall thereafter be made upon th at ground ; if the judgment creditor's estimate of the market value is not accepted, the person, corporation, partnership, or association giving the undertaking shall move the court in which the execution issued, upon ten days' notice to the judgment creditor, to estimate the market va lue of the property cla im ed and described in the under takin g, and upo n the hear ing of suc h mot ion w itnes ses may be required to attend and testify, and evidence be produced in the sam e manner as in the trial of ci vil actions. Upon the hearing of su ch motion, the court shall estimate the market value of the prop- er ty described in the undertaking, and if-the estimated value made by the court exceeds the estimated value as stated in the undertak- ing, a new understanding i shall be filed and served, with the market val ue de ter mi ned by the court stated therein as the estimated value. SEC. 385 . CLAIM OF PROPERTY ; UNDERTAKING JUSTIFICATION OF Undertaking, justifl- > > cation of sureties. SURETIES .-The sureties sha ll ju st ify on the undertaking as required by section 533 . SEC. 386. CLAIM OF PROPERTY ; UNDERTAKING, WHEN BECOMES FFFEC- Whe n becomes ef fec, liiviv .--The undertaking shall become effective for the purpose herein tivo. specified ten d ays after ser vi ce of co py th er eof on the judgment debtor, unless objection to such undertaking is made as herein pro- vid ed and in ca se objection is ma de to the undertaking fil ed and served, then the undertaking shall become effective for such purposes when an un derta king is gi ven as her ein provided. PROCEEDINGS SUPPLEMENTAL TO EXECU TION Proceedings supple- mental to execution. SEC. 387. DEBTOR REQUIRED TO ANSWER CONCERNING HIS PROPERTY. Debtor required to answer concerning his WH E N .-When an execution against property of the judgment debtor, Property, when. ' So in original . 3051 •-33--62 -