disinterested and impartial commissioners to make an estimate and appraisement of the value of such stock; and such commissioners having taken an oath or affirmation fairly and honestly to make such appraisement according to the best of their skill and understanding; and having caused notice in writing to be given to such stockholder, for at least five days, of the time and place of their meeting to make said appraisement, shall proceed to make the same; and when so made in writing and signed by said commissioners, or a majority of them, the same shall be conclusive and final; and the amount so appraised shall be deemed a debt due from said bank to said stockholder, and shall draw interest until paid or tendered to said stockholder, or to his or her lawful representatives; and the stock so appraised shall, upon such appraisement being made and signed as aforesaid, become the property of said bank, to be sold or disposed of, or held, as the board of directors may elect. strued as to issue deposit with state treasurer. notes and 4. And be it enacted, That nothing in the banking laws Act how conof this state shall be construed as requiring any banking of association to issue circulating notes and deposit with the treasurer of this state, public stocks or any of the securities provided for by said banking laws for the redemption of circulating notes, unless said association shall make the request provided for in section nineteen of the act to which this is a supplement; but should such request be made, and in pursuance thereof the treasurer issue circulating notes to such banking association, then in every such case it must be in pursuance of the laws of this state regulating and permitting their issue. (4). And be it enacted, That this act shall take effect immediately. Approved April 17, 1884. Chancellor may dissolve partner- Guardian of lunatic may concur and join CHAPTER CXLIII. A supplement to an act entitled "An act concerning idiots and lunatics," approved March twenty-seventh, one thousand eight hundred and seventy-four. 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That where a person, being a member of a co-partnership firm, is or shall become a lunatic (and is duly adjudged to be such by an inquest issued out of the court of chancery), the chancellor may, by order made on the application of the partner or partners of the lunatic, or of such other person or persons as the chancellor shall think entitled to require the same, dissolve the partnership: and thereupon, or upon a dissolution of the partnership by decree of the court of chancery, or otherwise by due course of law, the guardian with partner in of the estate of said lunatic, in the name and on behalf of the lunatic, may join and concur with such partner or partners or such other person or persons in disposing of the partnership property, as well real as personal, in such manner and to such or persons, person such and upon terms as the chancellor shall order and direct, and may execute and do all such conveyances and things for effectuating this present provision as the chancellor may order and direct, and shall apply and dispose of the money or property received for, from or on account of the lunatic's share and interest in the co-partnership, as the chancellor shall order and direct. disposing of property. 2. And be it enacted, That this act shall take effect immediately. Approved April 17, 1884. CHAPTER CXLIV. A Supplement to an act entitled "An act for the more easy partition of lands held by coparceners, joint tenants and tenants in common," approved March twentyseventh, one thousand eight hundred and seventy-four. not affected by premises. 1. BE IT ENACTED, by the Senate and General Assembly Liens of creditors of the State of New Jersey, That it shall not be necessary partition of in the first instance to make any creditor having a lien on any real estate whereof a partition is sought in the court of chancery, or any part thereof, by judgment, decree, mortgage or otherwise, a party to the proceedings, nor shall the partition of the premises alter, affect or impair the lien of such creditors, except in the cases provided for in the next section. ded interest a 2. And be it enacted, That where the lien is on the un- Liens on undivi. divided interest or estate of any of the parties, such lien, charge only on if partition be made of the premises, shall thereafter be state assigned. a charge only on the share assigned to such party, and such share shall be first charged with its just proportion of the costs of the proceedings in partition in preference to any such lien. may be made proceedings. 3. And be it enacted, That the complainant in any such Lien creditors suit in partition may at his or her election make every parties to creditor having a lien on the undivided interest or estate of any of the parties, by mortgage, judgment, decree, devise or otherwise, a party to the proceedings, and in such case the bill shall set forth the nature of such lien or incumbrance. When court may order bill amended to 4. And be it enacted, That before the making of any order for the sale of the premises where the creditors having liens shall not have been made parties, the court, on the mater creditors a party. motion of either party shall direct the complainant to to proceedings. amend his or her bill of complaint by making every creditor having a lien on the undivided interest, share or estate of any of the parties by mortgage, judgment, decree, de Proceeds of sale to be paid into court. Proceedings in case parties in interest apply to court for moneys claimed. vise or otherwise a party to the proceedings; and may thereupon by an order of reference for that purpose direct a master of the court to ascertain and report whether the shares or interests in the premises of the parties in such suit, or any of them, are subject to any lien or incumbrance by mortgage, devise, judgment or decree, or otherwise, and if so, to what liens or incumbrances, and by whom they are held. 5. And be it enacted, That if it shall appear by the proceedings in the suit or by such report that there are any existing liens or incumbrances upon the estate, share or interest in the premises of any party named in the proceedings in said suit the court shall if it order sale, in the decree for sale direct the master or commissioners, as the case may be, to bring into the court of chancery and pay to the clerk thereof the portion of the moneys arising from the sale of the estate, share and interest of said party after deducting the portion of the costs, charges and expenses to which it shall be liable. 6. And be it enacted, That any party in interest, either owner or incumbrancer may apply to the court to order such moneys or such part thereof as he shall claim to be paid to him; which application shall be accompanied by his affidavit stating to the best of his knowledge, information and belief, the true amount actually due on each incumbrance, the owner of such incumbrance, and his residence, so far as known to such party; and it shall be also accompanied by proof, by affidavit of the due service of a notice on each owner of any incumbrance, and on the owner of the share if the notice be given by an incumbrancer of the intention to make such application; if such owner reside in this state, the notice shall be a fourteen days notice at least, and shall be served personally, or if he be absent from his residence by leaving a copy there, with some person of over the age of fourteen years; if the person to be notified reside out of this state such notice shall be served on him or her personally, twenty days previously to the time named therein for making the application or by publishing the same in a newspaper (to be designated by the court) published in this state for four weeks successively, at least once in every week, and mailing a copy thereof to his address (if it can be ascertained) at least twenty days before the time named for the application. proofs, &c, and 7. And be it enacted, That upon such application and Courts to hear proof of notice being made, the court shall proceed to make order. hear the proofs and allegations of the parties, and make such order thereupon as the circumstances of the case may require. moneys to credi 8. And be it enacted, That when the amount of existing Distribution of incumbrances shall have been ascertained, the court shall tors how made. proceed to order a distribution of the moneys so brought into and remaining in court, among the several creditors having such incumbrances, according to the priority thereof respectively, and the other persons, if any, entitled thereto. officer to procure claims. 9. And be it enacted, That the clerk or other officer of Clerk or other the court by whom any such incumbrance shall be paid satisfaction of off shall procure satisfaction thereof to be acknowledged in the form required by law, and shall cause such incumbrance to be duly satisfied or cancelled of record, and shall defray the expenses thereof out of the portion of the moneys in court belonging to the party by whom such incumbrance was payable, if there be enough for the purpose, but if not, then out of the money due the incumbrancer. to affect other 10. And be it enacted, That the proceedings to ascertain Proceedings not and settle the amount of incumbrances as herein pro- parties to suit. vided, shall not affect any other party in such suit for partition, nor delay the paying over or investing of moneys to or for the benefit of any party except the one upon whose share in the premises the incumbrances are. be recorded and interested in 11. And be it enacted, That any conveyance executed in Conveyances to pursuance of sale in partition under proceedings in parti- to bar persons tion in the court of chancery under and in pursuance of premises. the provisions of this act, shall be recorded in the county where the premises are situated, and shall be a bar both in law and equity against all persons interested in such premises in any way, who shall have been parties in the said proceedings, and against all other persons claiming by, from or under such parties or either of them. 12. And be it enacted, That proceedings in partition Proceedings which may be pending when this act goes into effect shall pending not not be invalidated thereby, but any proceedings to be had invalidated. |