§ 7383 — Assignee’s bond

Delaware § 7383

• Jurisdiction: Delaware
• Title: 10
• Part: Special Proceedings
• Ch. 73: INSOLVENCY
• Subch.: Voluntary Assignments

Text

(a) The assignee shall, as soon as the inventory and appraisement required by § 7382 of this title have been filed, give bond with sufficient surety, to be approved by the Court of Chancery in an amount fixed by the Court, being not less than the total amount of inventory and appraisement of the estate so assigned. The bond shall be taken in the name of the State, and the condition thereof shall be as follows:

“The condition of this obligation is such, that if the above bounden assignee of shall in all things comply with the provisions of this chapter, and shall faithfully execute the trust confided to him or her, then the above obligation to be void, otherwise to remain in full force and virtue.”

(b) To the bond there shall be subjoined a warrant of attorney to confess judgment thereon, and the bond and warrant shall be joint and several, and such bond shall be filed in the office of the Register in Chancery of the county in which the inventory and appraisement were filed, and shall inure to the use of all persons interested in the property assigned.

Legislative History

15 Del. Laws, c. 187, § 3 ; Code 1915, § 4653; Code 1935, § 5111; 48 Del. Laws, c. 88, § 1 ; 10 Del. C. 1953, § 7383; 70 Del. Laws, c. 186, § 1