§ 7385 — Assignees’ accounts and exceptions

(a) The assignee shall render an account of the assignee’s trusteeship every year from the date of the assignee’s bond, required under § 7383 of this title, before the Register in Chancery of the proper county, until the trusteeship is closed and a final account rendered and approved. If the assignee fails to perform this duty, the Register in Chancery may issue a citation to such assignee, requiring the assignee to appear and exhibit under oath or affirmation the accounts of the trusts, within a certain time to be named in such citation.

(b) Upon the filing of any such account, notice thereof shall be given to all persons in interest as directed by an appropriate order of the Court of Chancery. Such order and notice shall set forth the time within which any person in interest may take and file with the Register in Chancery, in and for the proper county, exceptions to the account in question. The time within which exceptions to any such account may be filed by any person in interest shall be determined by the Court in the exercise of its discretion, and may be extended from time to time for good cause shown. Any exceptions so filed in respect of any such account shall be heard, determined and the particular account adjusted before the Court, as it may order or direct.

Legislative History

15 Del. Laws, c. 187, § 5 ; Code 1915, § 4655; Code 1935, § 5113; 48 Del. Laws, c. 80, § 1 ; 10 Del. C. 1953, § 7385; 70 Del. Laws, c. 186, § 1