2. And be it enacted, That this act shall take effect imme diately. Assignee allowed time to file list of debtors in certain cases. CHAPTER CCCCXXVI. A Supplement to an Act entitled "An Act to secure to creditors an equal and just division of the estates of debtors who convey to assignees for the benefit of creditors," approved April sixteenth, eighteen hundred and forty-six. 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That whenever the assignee or assignees mentioned in the fifth section of the act to which this is a supplement, shall have omitted to file with the surrogate of the county wherein the debtor or debtors reside at the time of making the assignment, as provided by the fifth and twenty first sections of the act to which this is a supplement, a list of such debtors as shall claim to be such, with a true statement of their respective claims, or where the evidence of such list having been filed has been lost or mislaid, it shall be lawful for the orphans' court in any such county, to grant and limit a further time within which the said list shall be filed, and such proceedings had as are prescribed by the fifth and twenty-first sections; and to make any further or other order in the premises as they shall deem the nature and circumstances of the case require. 2. And be it enacted, That this act shall take effect immediately. Approved March 17, 1870. CHAPTER CCCCXXX. A Supplement to "An Act to prevent Frauds by Incorporated Companies," approved April fifteenth, eighteen hundred and forty-six. railroad, canal comes insol may be ap or lease canal, 1. BE IT ENACTED by the Senate and General Assembly of Whenever a the State of New Jersey, That whenever any railroad, canal or turnpike or turnpike company, incorporated under the laws of this company bestate, have become insolvent, or failed for ninety days after vent, receiver the same becomes due, to pay the principal or interest on any pointed mortgage on the property and franchises of such company, it shall be lawful for the chancellor, upon the application of any creditor, mortgagee or stockholder of such company, to appoint a receiver or receivers, or three trustees, who shall have and exercise all the powers and authority that it is lawful for receivers and trustees to exercise, under the act to which this is a supplement; and it shall be lawful for such receivers or They may sell trustees to sell or lease the canal, railroad or turnpike belong- railroad or ing to such company, together with all the chartered rights, turnpike. privileges and franchises of such company; and the purchaser or purchasers, lessee or lessees of such work, chartered rights, privileges and franchises, shall thereafter hold, use and enjoy the same during the whole of the residue of the term limited in the charter of such company, or during the term in such lease specified, in as full and ample a manner as the stockholders of such company could or might have enjoyed the same, subject, however, to all the restrictions, limitations and conditions contained in such charter; and upon filing in upon filing the office of the secretary of state, within six months after certificate such sale or lease, a certificate that they accept the charter of state the of the company whose property has been sold or leased, under come a corposome corporate name different from that of the said company, ration, &c. such purchasers or lessees shall become a corporation under the name so specified, with all the powers, rights, privileges and franchises of the former company; the lessees or purchasers, or corporation formed by them as aforesaid, shall hold and enjoy the same, free and clear of all debts, claims and demands of creditors, mortgagees or stockholders, who with secretary purchasers be shall look only to the fund arising from such lease or sale, which money, as collected, shall be paid into the court of chancery; but where such property is subject to a mortgage, the chancellor may, with the consent of the plaintiff, or without such consent if the principal is not due, direct a sale or lease to be made, subject to the lien of the mortgage. 2. And be it enacted, That this act shall take effect immediately. Approved March 17, 1870. Repealer. CHAPTER CCCCXLI. A Supplement to the act entitled "An Act for the better protection of Hotel, Inn and Boarding House Keepers," approved April sixth, eighteen hundred and sixty-five. 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That the second section of the act entitled "A Supplement to the act to which this is a supplement," approved April eleventh, eighteen hundred and sixtyseven, be and the same is hereby repealed. 2. And be it enacted, That this act shall take effect immediately. Approved March 17, 1870. CHAPTER CCCCXCV. A Further Supplement to the act entitled "An Act to Register Mortgages,' approved April fifteenth, eighteen hundred and forty-six. of mortgage, knowledged. 1. BE IT ENACTED by the Senate and General Assembly of Assignments the State of New Jersey, That if the assignor of any assign- how proved ment of mortgage upon lands in this state, heretofore made when not acand executed and not acknowledged or proved according to law, or hereafter to be made and executed and not acknowledged or proved according to law, and the subscribing witnesses thereto be dead, or of unsound mind, or reside out of or are not to be found in the state, it shall be lawful to prove such deed of assignment before one of the justices of the supreme court, by proving the handwriting of such witnesses to the satisfaction of such justice, and upon his certificate endorsed on, or annexed to such assignment that such proof has been made before him, such assignment may be recorded in the manner provided for in the act entitled "A Supplement to the act entitled 'An Act to register mortgages,"" approved March third, eighteen hundred and fifty three, and such justice shall be entitled to a fee of two dollars for taking and certifying every such proof. 2. And be it enacted, That this act shall take effect immediately. Approved March 17, 1870. Executors to if property is safe in their hands. CHAPTER CCCCXCVII. A Further Supplement to an act entitled "An Act respecting the Orphans' Court, and the power and authority of Surrogates," approved April sixteenth, eighteen hundred and forty-six. 1. BE IT ENACTED by the Senate and General Assembly of give security the State of New Jersey, That whenever the orphans' court regarded un- of any county in this state, shall, upon affidavits laid before them, deem the property in the hands of any executor or executors, unsafe, insecure, or in danger of being wasted, it shall be lawful for any such orphans' court, at the instance of any person interested in the estate of the testator, to require such executor, or executors, to give security to the ordinary of this state by bond with sureties, and in such amount as said court shall deem proper, conditioned for the faithful performance, by such executor or executors, of his or their duty under the will of the testator. An administrator may be 2. And be it enacted, That on failure of any such execuappointed on- tor, or executors, to give such security within the time limitcutor to give ed by the court, it shall be lawful for any such court to resuch security move such executor or executors, and to appoint an adminis failure of exe trator, or administrators, with the will annexed, who shall enter into and give such security as the said court may direct for the faithful performance of their duty under the will of the said testator, and upon giving such security such administrator, or administrators shall be entitled to recover from the executor or executors, so failing, all the assets of said testator, in his or their hands, either by an action at law, or by a bill in chancery for a specific delivery thereof, or their value, as the chancellor shall deem just; or, said orphans' court may make an order for delivery of the same, and enforce the same by attachment for contempt, if not complied with. 3. And be it enacted, That this act shall take effect immediately. Approved March 17, 1870. |