18 tion for their services at the discretion of the Commis

19 sioner.

SECT. 43. The assignees shall have power, under the 2 direction of the Commissioner to submit any contro3 versy that shall arise in the settlement of any demand 4 against the estate of the debtor, or of debts due to his 5 estate, to the determination of one or more arbitrators 6 to be chosen by the assignees and the other party to 7 such controversy: and the assignees shall likewise 8 have power under the direction of the Commissioner 9 to compound and settle any such controversy by 10 agreement with the other party thereto, as they shall 11 think proper and most for the interest of the creditors.

SECT. 44. It shall be in the power of the creditors, 2 by such a vote as is provided in the seventh section of 3 this Act for the choice of assignees, at a regular meet4 ing called by order of the Commissioner for that 5 purpose, which meeting may be called by the Com6 missioner at his discretion, and shall be called by him 7 upon the application of a majority of said creditors, 8 either in number or value, to remove all or any of the 9 assignees; and upon such removal or upon any 10 vacancy by death or otherwise, to choose one or more 11 assignees in his or their place: and all the estate of 12 the debtor, not before lawfully disposed of, shall forth13 with as effectually and legally vest in such new 14 assignee or assignees, as if the original assignment

15 had been made to him or them; and the former assignee 16 or assignees, and his or their executors or administra17 tors shall, upon the request and at the expense of the 18 estate in the hands of the new assignee or assignees, 19 make and execute to him or them all such deeds, con20 veyances and assurances, and do all such other lawful 21 acts and things, as may be needful or proper to enable 22 the new assignee or assignees to demand, recover and 23 receive all the said estate; and when only one assignee 24 shall be originally appointed, or when by death or 25 otherwise, the number shall be reduced to one, all the 26 provisions in this Act contained in reference to several 27 assignees, shall apply to such one.

SECT. 45. The assignees shall, at such time as shall 2 be appointed by the Commissioner, within six months 3 from the time of their appointment, call a meeting of 4 all the creditors of the debtor, by a notice to be pub5 lished in such manner as the Commissioner shall 6 direct, at which meeting the creditors who have not 7 before proved their debts shall be allowed to prove the 8 same and the assignees shall produce to the Commis9 sioner and the creditors then present fair and just 10 accounts of all their receipts and payments touching 11 the estate of the debtor, and shall, if required by the 12 Commissioner, be examined on oath, as to the truth of 13 their accounts.

SECT. 46. The Commissioner shall thereupon make 2 an order in writing, under his hand for a dividend of

3 the said estate and effects, or of such part thereof, as 4 he shall think fit, among such of the creditors of the 5 said debtor as shall have proved their debts, in propor6 tion to their respective debts, which order shall be 7 recorded with the other proceedings in the case: pro8 vided however, that all debts due to the United States 9 from the debtor, or to any person, who by the laws of 10 the United States or of this State are or may be entitled 11 to a priority or preference with respect to such debts, 12 out of the estate assigned as aforesaid, shall have the 13 benefit of such priority or preference in like manner as 14 as if this Act had not been passed.

SECT. 47. If at the time of ordering such dividend, 2 it shall appear probable, that there are just claims 3 against the estate, which by reason of the distant resi4 dence of the creditor, or for other sufficient reason, 5 have not been proved, the Commissioner shall, in 6 ordering such dividend, leave in the hands of the 7 assignees a sum sufficient to pay to every such absent 8 creditor, a proportion equal to what shall be then paid 9 to the other creditors; which sum shall remain thus 10 unappropriated in the hands of the assignees until the 11 final dividend shall be declared, or until the Commis12 sioner shall order its distribution.

SECT. 48. The said assignees shall, at such time 2 as shall be appointed by the Commissioner, within 3 eighteen months after the appointment of the assign4 ess, make a second dividend of the said estate, in case

5 the same was not wholly distributed upon the first 6 dividend, and shall give notice of a meeting for that 7 purpose to all the creditors of the debtor in such man8 ner as the Commissioner shall direct; at which meeting 9 the creditors, who have not proved their debts, shall be 10 allowed to prove the same, and the accounts of the 11 assignees shall then be produced and examined as pro12 vided in the forty-fifth section, and shall be settled by 13 the Commissioner: and what, upon the balance thereof, 14 shall appear to be in their hands, shall by a like order 15 of the Commissioner, be divided among all the credi16 tors, who shall then have proved their debts in pro17 portion to their respective debts: provided, that no 18 creditor whose debt shall be proved at the time of the 19 second or any after dividend, shall be allowed to dis20 turb any prior dividend, but he shall be paid so far only 21 as the funds remaining unappropriated in the hands 22 of the assignees shall be sufficient therefor.

SECT. 49. If at the time of appointing the meeting 2 for the second dividend, there shall remain in the 3 hands of the assignees any outstanding debts, or other 4 property due or belonging to the estate, which cannot, 5 in the opinion of the Commissioner, be collected and 6 received by the assignees without unreasonable or 7 inconvenient delay, the assignees may, under the direc8 tion of the Commissione, rsell and assign such debts or 9 other property in such manner as shall be ordered by 10 the Commissioner.

SECT. 50. Such second dividend shall be final, unless 2 any suit relating to the estate be then depending or 3 any part of the estate be outstanding, or unless some 4 other estate or effects of the said debtor shall after5 wards come to the hands of the assignees, in which 6 cases another dividend shall be made by order of the 7 Commissioner in the manner before provided: and 8 further dividends shall be made in like manner as often 9 as occasion shall require and at every regular meet10 ing of the creditors, those who have not before proved 11 their debts, shall be allowed to prove the same; and if 12 after the payment of all debts proved as aforesaid, any 13 surplus shall remain in the hands of the assignees, 14 the same shall be paid or reconveyed to, or revest in 15 the debtor or his legal representatives.

SECT. 51. At the commencement of the proceedings 2 in each case under this Act, the Commissioner shall 3 appoint a Clerk, who shall be duly sworn to the faithful 4 discharge of his duty: and the Clerk shall keep a 5 record of all the regular meetings of the creditors, and 6 of all the proceedings at the same, and shall preserve 7 all papers duly filed in the course of the proceedings, 8 and perform such other duties appertaining to his office 9 as shall be prescribed by the Commissioner; and the 10 record of the proceedings in each case, with all the 11 papers filed therein, shall be enclosed together, and at 12 the termination of the proceedings, shall be deposited