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Excerpt from A Bill to Establish an Uniform System of Bankruptcy Throughout the United States: House of Representatives, April 22 1864 Sec. 20. And be it further enacted, That the assignee shall, as soon as may be after receiving any money belonging to the estate, deposit the same in some bank in his name as assignee, or otherwise keep it distinct and apart from all other money in his possession; and shall, as far as practicable, keep all goods and effects belonging to the estate separate and apart from all other goods in his possession, or designated by appropriate marks, so that they may be easily and clearly distinguished, and may not be exposed or liable to be taken as his property for the payment of his debts. When it appears that the distribution Of the estate may be delayed by litigation or other cause, the court may direct the temporary investment Of the money belonging to such estate in securities to be approved by the judge Ora register Of said court, or may authorize the same to be deposited in any convenient bank, upon such interest, not exceeding the legal rate, as the bank may contract with the assignee to pay thereon. He shall give written notice to all known. Creditors, by mail or otherwise, of all divi dends, and such notice of meetings, after the first, as may be ordered by the court. He shall be allowed, and may retain, out Of money in his hands, all the necessary disbursements made by him in the discharge Of his duty, and a rea sonable compensation for his services, in the discretion of the court. He may, under the direction of the court, submit any controversy arising in the settle ment of demands against the estate, or of debts due to it, to the determination of arbitrators, to be chosen by him and the other party to the controversy, and may, under such direction, compound and settle any such controversy by agree ment with the other party as he thinks proper and most for the interest of the creditors. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

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