§ 31. Institution by creditor of insolvency proceedings
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 39 P.S. Insolvency and Assignments
39 P.S. § 31
§ 31. Institution by creditor of insolvency proceedings
Any creditor of an alleged insolvent may, in the court of common pleas of the county where the alleged insolvent resides or his principal place of business is situate, by petition, under oath, aver that such person, persons, firm, limited partnership, joint-stock company or corporation is insolvent, has not made an assignment for the benefit of his, their or its creditors, is resident or is carrying on business in said county; and:
(7). Has suffered or permitted any attachment or sequestration to remain against any of his property, without attempting to dissolve, by rule taken for that purpose, or upon entering security for a period of thirty days, or having taken a rule to dissolve which has been discharged by the court, has not entered security within twenty days thereafter; or,
(8). Has made any pledge, assignment, transfer, conveyance or encumbrance of the whole or a large part of his stock in trade or property, without being able to meet his liabilities and without the consent of his creditors, either in payment of or as security for a debt then existing, or with the intent to prefer one creditor to another, or out of his usual course of business, or for the benefit of himself or family.
Credits
1901, June 4, P.L. 404, § 7.
39 P.S. § 31, PA ST 39 P.S. § 31
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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