INSOLVENCY PROCEEDINGS

RSA tit. LVII, ch. 568

in effect

RSA 568:1 Jurisdiction of Probate Courts.

568:1. Jurisdiction of Probate Courts. The court of probate of each county shall have original jurisdiction of all cases of insolvency arising in such county under the provisions of this chapter and shall at all suitable times be open for the transaction of business. Source. 1861, 2488. GS 126. GL 140. 1885, 85:1. PS 201:1. PL 401:1. RL 465:1.

RSA 568:2 Records.

568:2. Records. All assignments, agreements for composition and certificates of discharge shall be recorded in full. All other papers shall be numbered, filed and kept in the register's office as records of the proceedings. Source. PS 201:2. PL 401:2. RL 465:2.

RSA 568:3 Register's Duties.

568:3. Register's Duties. The register shall enter all cases of insolvency upon a docket prepared for the purpose. He shall make all computations of dividends and may administer oaths in insolvency proceedings. Source. PS 201:3. PL 401:3. RL 465:3.

RSA 568:4 Warrants, etc.

568:4. Warrants, etc. All warrants, orders of notice and processes issuing from the court relating to insolvency shall be headed "Proceedings in Insolvency," shall be under the seal of the court, and shall be executed and obeyed throughout the state. The officer or person to whom they are legally directed may serve the same in any county. Warrants shall be returnable in not less than 10 nor more than 60 days from the issuing thereof. Source. 1889, 96:5. PS 201:4. PL 401:4. RL 465:4.

RSA 568:5 Rules of Practice.

568:5. Rules of Practice. The judges of probate, or a majority of them, may make rules not repugnant to law for regulating the practice and conducting the business of the court in insolvency proceedings, subject to approval, alteration and amendment by the supreme court. Source. PS 201:5. PL 401:5. RL 465:5.

RSA 568:6 Assignment by Debtor to Probate Judge.

568:6. Assignment by Debtor to Probate Judge. An inhabitant of this state owing debts which he is unable to pay, and who is not entitled to proceed under the Bankruptcy Act, may make an assignment, for the benefit of his creditors, of all his estate and effects not exempt from attachment to the judge of probate for the county in which he resides and to such assignee and his successors as the judge may appoint. If any part of the debtor's property is real estate, the assignment shall be executed with the formalities required in the case of deeds of land. The assignment, however made or expressed, shall be construed to convey all the debtor's estate not exempt from attachment and all property which might have been taken on execution upon a judgment against him at the beginning of the proceedings in insolvency. He shall at the same time make, on oath, and deliver to the judge, for the use of the messenger, a schedule containing a full and true list of the names of his creditors, and of the place of residence of each, if known to him. Source. RS 134:1, 2. CS 140:1, 2. GS 126:1, 2. GL 140:1, 2. 1885, 85:1. PS 201:6. 1895, 68:1. PL 401:6. RL 465:6.

RSA 568:7 Warrant.

568:7. Warrant. If it shall appear to the satisfaction of the judge that the applicant is not able to pay his debts in full, the judge shall issue a warrant to the sheriff of the county, or to one of his deputies, directing him forthwith as messenger to take possession of all the estate of the debtor, except such as is by law exempt from attachment, and of all his deeds, books of account and papers, to safely keep the same until the appointment of an assignee, to send written notices by mail or otherwise to all creditors upon the debtor's schedule, and to publish and give such other notices as the judge may direct. The notices shall state: I. That a warrant has been issued against the estate of the debtor. II. That the payment of any debts to or by the debtor, and the delivery or transfer of any property by him, are forbidden. III. The time and place of a meeting, as stated in the warrant, at which an assignee may be nominated by creditors whose claims have been allowed. Source. 1861, 2488:6. GS 126:10. GL 140:10. 1885, 85:2, 4, 7. 1889, 96:2. PS 201:7. PL 401:7. RL 465:7.

RSA 568:8 Schedules.

568:8. Schedules. The debtor shall, within 10 days after the beginning of the proceedings, make, on oath, and file in the office of the register a schedule of his creditors, stating the place of residence of each, if known, the amount due each, the nature of each debt, the true consideration thereof and any security given for its payment, a schedule of all his estate, giving its location and description and the nature of all encumbrances thereon, with the date, amount and consideration for each. If by mistake, accident or misfortune the schedules are not furnished within the 10-day period prescribed in this section, they shall be delivered as soon as possible and before the first meeting of the creditors. Source. 1861, 2488:1. GS 126:4. 1885, 85:2. PS 201:8. PL 401:8. RL 465:8.

RSA 568:9 Delivery of Estate.

568:9. Delivery of Estate. The debtor shall deliver, upon demand, to the messenger all his estate not exempt from attachment, together with his deeds, books of account and other papers relating thereto which are within his possession or power, and shall declare the situation of such part thereof as is in the possession of any other person. Source. 1861, 2488:1. GS 126:4. 1885, 85:2. PS 201:8. PL 401:9. RL 465:9.

RSA 568:10 Perishable Property.

568:10. Perishable Property. If any part of the estate consists of living animals, goods liable to perish or waste or to be greatly reduced in value by keeping, or which cannot be kept without great expense, the judge may order the same to be sold by the messenger in such manner as he may deem expedient, and the money received therefor shall be held in the place of the property. Source. 1885, 85:2. 1889, 96:1. PS 201:9. PL 401:10. RL 465:10.

RSA 568:11 Collection of Debts.

568:11. Collection of Debts. The judge may direct the messenger to collect any debts due the insolvent and to begin and prosecute any action in his name as messenger for the benefit of the estate. The assignee, when appointed, may continue the prosecution of any action so begun. Source. PS 201:10. PL 401:11. RL 465:11.

RSA 568:12 Return of Warrant, etc.

568:12. Return of Warrant, etc. At the meeting held in pursuance of the notice provided for in RSA 568:7, the messenger shall make return of the warrant and of his action thereon. If it shall appear that the required notice has not been given, the judge shall adjourn the meeting and order further notice. Source. PS 201:11. PL 401:12. RL 465:12.

RSA 568:13 Delivery to Assignee.

568:13. Delivery to Assignee. Whenever an assignee has been appointed and qualified, the messenger shall deliver to him all property, books and papers in his possession belonging to the estate, and shall file in the register's office his account, under oath, and settle the same with the judge, with or without notice, as the judge may direct. Source. PS 201:12. PL 401:13. RL 465:13.

RSA 568:14 What Provable.

568:14. What Provable. All claims existing against the estate at the beginning of the proceedings in insolvency may be proved and allowed as of that date, whether then payable or not, with a rebate of interest upon such claims as are not then payable and do not bear interest. Costs taxable against the debtor in an action then pending in which he is plaintiff and which the assignee declines to prosecute and taxable costs incurred in good faith by a creditor before the beginning of the proceedings in an action brought against the debtor to recover a provable debt may also be proved and allowed. Source. PS 201:13. PL 401:14. RL 465:14.

RSA 568:15 Manner.

568:15. Manner. Claims shall be proved by a statement in writing, signed by the creditor or his agent having knowledge of the facts stated, setting forth, under oath, the claim, the consideration therefor, any security held therefor, any payments made or credits that should be allowed thereon and a statement that the claim is justly due from the debtor to the creditor; if the claim is founded upon a writing, the writing shall be attached to the proof unless lost or destroyed. After final allowance or disallowance of the claim, the writing may, by leave of court, be withdrawn and a copy substituted. Source. 1862, 2594:2. GS 126:11. GL 140:11. 1885, 85:5. PS 201:14. PL 401:15. RL 465:15.

RSA 568:16 Allowance.

568:16. Allowance. Upon proof of the claim as provided in RSA 568:15, unless objection is made by some party in interest, or the judge shall see cause for different action, the claim shall be allowed. In cases of mutual debts and credits, the balance only shall be allowed, and in cases where creditors have received preferences the claims shall not be allowed unless the preferences have been surrendered. Whenever the judge entertains doubts as to the validity of a claim, he may postpone its consideration until after the appointment of an assignee. Source. PS 201:15. PL 401:16. RL 465:16.

RSA 568:17 Time.

568:17. Time. All claims shall be proved against the estate within 2 months from the beginning of the insolvency proceedings. Any claim not proved within the time limited may be proved at any time before the final dividend. The proof of a claim shall not affect any dividend already made, but in any subsequent dividends the claim, if allowed, shall be a preferred claim for dividends equal to those which have been previously made upon like claims. Source. 1862, 2594:2. GS 126:11. GL 140:11, 12. 1885, 85:5. 1889, 100:1, 2. PS 201:16. PL 401:17. RL 465:17.

RSA 568:18 Objections.

568:18. Objections. All objections to claims shall be made within 4 months of the beginning of insolvency proceedings, except in cases of claims proved after the time limited, in which cases objections may be made within 30 days of the time of their proof. Source. 1862, 2594:3. GS 126:12. GL 140:12. 1885, 85:5. PS 201:17. PL 401:18. RL 465:18.

RSA 568:19 Hearings.

568:19. Hearings. All hearings in relation to the allowance of claims shall be held within 5 months of the beginning of the proceedings, or, in cases of claims proved after the time limited, as soon as possible after objection is made. Source. 1862, 2594:4. GS 126:13. GL 140:13. 1885, 85:5. PS 201:18. PL 401:19. RL 465:19.

RSA 568:20 Rehearing.

568:20. Rehearing. Claims that have been allowed may at any time before the final dividend be reheard in the discretion of the judge, and may be altered or disallowed if the evidence shows that they are founded in fraud, illegality or mistake. Source. PS 201:19. PL 401:20. RL 465:20.

RSA 568:21 Valuation of Security.

568:21. Valuation of Security. The value of securities held by creditors shall be determined in such manner as the court shall approve, and such value shall be credited upon the claims so secured and the balance only allowed, unless the creditor shall surrender the security, in which case he may be allowed his whole claim. Source. 1862, 2594:8. GS 126:15. GL 140:15. PS 201:20. PL 401:21. RL 465:21.

RSA 568:22 Proof by Surety.

568:22. Proof by Surety. Whenever a creditor whose claim is secured by the individual undertaking of any person other than the debtor fails to prove the claim, such person may prove the same in the name of the creditor. Source. PS 201:21. PL 401:22. RL 465:22.

RSA 568:23 Appointment.

568:23. Appointment. The judge shall appoint as assignee such proper person as the creditors at their first meeting shall nominate by a vote of 2/3 in number of the creditors who have secured the allowance of their claims and are present at the meeting in person, or by attorney or proxy, and of a majority in value of the claims allowed. No creditor shall be eligible as assignee, and no person who has received a preference contrary to the provisions of this chapter shall be allowed to vote for assignee. If the creditors fail to nominate a suitable person, the judge shall appoint the assignee. Source. 1885, 85:4, 7. 1889, 96:3. PS 201:22. PL 401:23. RL 465:23.

RSA 568:24 Removal; Vacancies.

568:24. Removal; Vacancies. The judge may at any time remove the assignee for cause, and shall fill all vacancies. If the assignee does not, within 5 days after notification of his appointment, accept the trust and file a bond in such sum as the judge shall order, conditioned for the faithful performance of his duties, a vacancy shall exist in the office. Source. 1885, 85:8. PS 201:23. PL 401:24. RL 465:24.

RSA 568:25 Notice.

568:25. Notice. The assignee shall give such notice of his appointment as the judge shall order. Source. 1861, 2488:6. GS 126:10. GL 140:10. PS 201:24. PL 401:25. RL 465:25.

RSA 568:26 Inventory, etc.

568:26. Inventory, etc. The assignee shall, within such time as the judge may order, return into court, under oath, an inventory of all the debtor's estate not exempt from attachment. He shall convert such estate into money in such manner as the judge may direct. Source. 1861, 2488:1. GS 126:4. 1885, 85:4. PS 201:25. PL 401:26. RL 465:26.

RSA 568:27 Attachments, etc.

568:27. Attachments, etc. The proceedings in insolvency shall dissolve all attachments of the debtor's property made within 3 months before the beginning thereof, and all payments, pledges, mortgages, conveyances, sales and transfers made within that time, the effect of which, if held valid, would be to diminish the property available to the creditors, the person to whom made having reasonable cause to believe the debtor insolvent, or which were not made in the ordinary course of business and for an adequate consideration, or which were made to satisfy or secure a previously existing debt, and all pledges, payments, mortgages, sales and transfers, whenever made, if fraudulent as to creditors, shall be void; and the assignee may recover any amount so paid and any property so attached, pledged, mortgaged, paid, sold or transferred. The provisions of this section shall not affect any existing lien for labor performed or materials furnished or any proceedings to enforce the same. Source. 1885, 85:9. PS 201:26. PL 401:27. RL 465:27.

RSA 568:28 Procedure.

568:28. Procedure. The debtor, when required by the court upon reasonable notice, shall appear before the judge and submit to an examination on oath by the assignee or any creditor touching any matter which may affect the settlement of his estate in insolvency. Upon cause shown by affidavit of a person interested in the estate, the judge may summon any person suspected of having fraudulently received, concealed, embezzled or conveyed away any of the estate of the debtor, of having in his possession any of the assets of the debtor's estate, or of having any knowledge of anything material relating to such assets or to the dealings of the debtor, to appear and submit to an examination in like manner. But no evidence elicited shall be used against the person examined in any criminal prosecution, except a prosecution for perjury committed upon such examination. Source. PS 201:27. PL 401:28. RL 465:28.

RSA 568:29 For Support, Legal Expenses, etc.

568:29. For Support, Legal Expenses, etc. The debtor shall be paid by the assignee $1 a day for his attendance upon request of the assignee and upon request of the judge when required. He shall also be allowed out of his estate, for the necessary support of himself and family, such sum not exceeding $2 a week for each member, and for such time not exceeding 2 months, as the judge may order. He shall also be allowed, out of his estate, such necessary legal expenses as may be adjudged just and reasonable by the judge. Source. 1885, 85:16. PS 201:28. 1897, 32:1. PL 401:29. RL 465:29.

RSA 568:30 Accounts.

568:30. Accounts. Within 6 months from the beginning of the insolvency proceedings, and at such other times as the judge may direct, the assignee shall file in the office of the clerk an account of his receipts, payments and charges touching the estate. The judge shall appoint a time and place of hearing upon the question of the allowance of such account and shall issue a citation or order of notice to the debtor and creditors accordingly. At the hearing all parties in interest may be heard, and the judge shall allow the account as shall seem reasonable and just. Source. 1861, 2488:5. GS 126:21. GL 140:21. 1885, 85:5. 1889, 100:1. PS 201:29. PL 401:30. RL 465:30. 2011, 88:20, eff. July 1, 2011.

RSA 568:31 Priorities of Claims.

568:31. Priorities of Claims. The following claims are entitled to priority, and shall be paid in full in the order named: I. Debts due the United States and all taxes. II. Wages due an operative, clerk or servant, not exceeding $50, for labor performed within 6 months prior to the beginning of the insolvency proceedings. III. Taxable costs in any suit begun in good faith in which an attachment is dissolved by the insolvency proceedings. Source. 1885, 85:17. 1889, 100:2. PS 201:32. PL 401:31. RL 465:31.

RSA 568:32 Payment of Claims.

568:32. Payment of Claims. At any time after the beginning of the insolvency proceedings, upon such notice to the creditors and the assignee as he shall think proper, the judge may order the payment in whole or in part of claims entitled to priority under the provisions of this chapter. Source. 1862, 2594:7. GS 126:22. GL 140:22. PS 201:30. PL 401:32. RL 465:32.

RSA 568:33 Dividends.

568:33. Dividends. Within 8 months from the beginning of the proceedings, the judge shall order that portion of the estate not required to pay claims entitled to priority, or such part thereof as he deems fit, to be divided among all the creditors whose claims have been allowed and who are not entitled to priority, in proportion to their respective claims. Further dividends shall be made as the occasion requires. Source. 1862, 2594:7. GS 126:22. GL 140:22. PS 201:31. PL 401:33. RL 465:33.

RSA 568:34 Appealed Claims.

568:34. Appealed Claims. If an appeal in regard to any claim is pending at the time of making a dividend, a sufficient amount shall be reserved in the hands of the assignee to satisfy the dividends that may be called for upon such claim. Source. PS 201:33. PL 401:34. RL 465:34.

RSA 568:35 Form.

568:35. Form. The debtor may amend his schedules at any time within 3 months after the beginning of the proceedings. At the end of such time, he shall subscribe, take and file in the office of the clerk an oath, in substance as follows: I, .......... , do solemnly swear that the account of my creditors contained in the schedule made and signed by me and now on file in the court is in all respects just and true according to my best knowledge and belief. I do further swear that I have delivered to the messenger all my estate, except such part as is by law exempt from attachment, and such as has been necessarily spent for the support of myself and family, and all my books of account and papers relating to my estate that were within my possession or power when the same were demanded of me by the messenger; that I have delivered to the messenger or assignee all such of my said estate, books and papers as have since come to my possession; and that if any other estate, effects or other things shall hereafter come to my knowledge or possession, I will forthwith disclose or deliver the same to the assignee. And I do further swear that I have not made over or disposed of any part of my estate or effects for the future benefit of myself or my family, or in order to defraud my creditors. Source. 1885, 85:11. 1889, 96:4. PS 201:34. PL 401:35. RL 465:35. 2011, 88:20, eff. July 1, 2011.

RSA 568:36 Procedure.

568:36. Procedure. At any time within 12 months after the settlement of the final account of the assignee, and not afterward, the debtor may petition the court for a discharge, and the judge shall thereupon appoint a time and place for a hearing, of which the creditors shall have due notice. A creditor opposing the discharge shall file a specification in writing of the grounds of his opposition. Source. 1885, 85:15. PS 201:35. 1895, 38:1. PL 401:36. RL 465:36.

RSA 568:37 Granting.

568:37. Granting. If it appears to the satisfaction of the judge, after the hearing provided for in RSA 568:36, that the debtor has made a full disclosure and delivery of all his estate as herein required, and that he has in all things conformed to the requirements of the laws relating to insolvent debtors, the judge shall grant him a discharge from all his debts not specially excepted, and shall give him a certificate thereof under the seal of the court. Source. 1885, 85:15. 1889, 100:2. PS 201:36. PL 401:37. RL 465:37.

RSA 568:38 Excepted Claims.

568:38. Excepted Claims. I. Taxes and debts created by the debtor's fraud, embezzlement or defalcation while acting as a public officer or in any fiduciary capacity shall not be discharged. II. Loan repayments due from loans made in accordance with the provisions of RSA 200-I to a medical or veterinary student shall not be eligible to be discharged if less than 10 years have passed since the first loan repayment was due. Source. 1885, 85:15. 1889, 100:2. PS 201:37. PL 401:38. RL 465:38. RSA 568:38. 1979, 302:3, 353:12, eff. July 1, 1979.

RSA 568:39 Joint Debtor.

568:39. Joint Debtor. A discharge shall not release or discharge a person liable for the same debt for or with the debtor. Source. PS 201:38. PL 401:39. RL 465:39.

RSA 568:40 Consent of Creditors.

568:40. Consent of Creditors. A discharge shall not be granted to a debtor whose assets do not pay 50 percent of the claims allowed against his estate which are not entitled to priority, unless the assent in writing of 2/3 in number and value of the creditors who have such claims and whose claims have been allowed is filed in the case. Source. 1885, 85:15. 1889, 100:2. PS 201:39. PL 401:40. RL 465:40.

RSA 568:41 Fraud.

568:41. Fraud. A discharge shall not be granted, nor if granted be valid, if the debtor has wilfully sworn falsely as to any material fact in the course of the proceedings or if he has fraudulently concealed any part of his estate, or any books or writings relating thereto; if, being insolvent and having sufficient cause to believe himself so, the debtor has, within 6 months before the beginning of the proceedings, obtained on credit any money, goods, chattels or other thing of value with intent not to pay for the same, has destroyed, altered, mutilated or falsified any of his books, documents, papers, writings or securities or been privy thereto, or has made any fraudulent payment, gift, transfer, conveyance or assignment of any part of his property or spent any part thereof in gaming; if, having knowledge that a person has proved a false debt against his estate, the debtor has not disclosed the same to his assignee within one month after such knowledge; or if the debtor has procured the assent of any creditor to the discharge by pecuniary consideration. Source. 1885, 85:12. 1889, 100:2. PS 201:40. PL 401:41. RL 465:41.

RSA 568:42 Refusal of Dividend.

568:42. Refusal of Dividend. In case of a discharge, if a creditor shall refuse to accept the dividends decreed to him in discharge of his debt or claim, they shall be deposited with the judge of probate, subject to the order of the creditor, and if the creditor does not claim them within one year from the time of such deposit, the judge shall pay them to the debtor. Source. 1885, 85:14. PS 201:41. PL 401:42. RL 465:42.

RSA 568:43 Procedure.

568:43. Procedure. The judge of probate, upon petition, under oath of any creditor or creditors of a debtor residing in the county, setting forth that the debtor is owing the petitioner or petitioners $300 or more, that his property within the state, not exempt from attachment, is in their belief insufficient to pay his debts, and that they are not entitled to proceed under the Bankruptcy Act, shall appoint a time and place of hearing and cause the petitioner to give notice thereof to the debtor. If, after the hearing, the facts set forth in the petition are found to be true, the judge shall adjudge the debtor insolvent and issue his warrant to the sheriff of the county or one of his deputies, directing him forthwith as messenger to take possession of all the estate, real and personal, of the debtor not exempt from attachment and to safely keep the same until further order of the court. The judge may also order the debtor to return a list of his creditors and a schedule of his property, each verified by his oath, within a prescribed period of time. Source. 1885, 85:7. PS 201:42. PL 401:43. RL 465:43.

RSA 568:44 Notice, etc.

568:44. Notice, etc. If the list of creditors provided for in RSA 568:43 is returned, the judge shall cause notice to be given to the creditors and proceed for the choice of an assignee, as directed by RSA 568:23. If for any reason the list shall not be returned, the judge shall cause such notice of the petition as he deems sufficient to be given, and afterward proceed as provided in RSA 568:23. Source. 1885, 85:7. PS 201:43. PL 401:44. RL 465:44.

RSA 568:45 Effect.

568:45. Effect. The estate of the debtor shall vest in the judge of probate and such assignee and his successors as may be appointed as in other cases, and the debtor may also be ordered to execute an assignment, and further proceedings shall be had as in cases of voluntary assignment. Source. 1885, 85:7. PS 201:44. PL 401:45. RL 465:45.

RSA 568:46 Partner's Petition.

568:46. Partner's Petition. A partner, whenever his copartners will not join with him in a voluntary assignment, may file a petition in form and substance like a creditor's petition in the county where any of the partners resides, praying that the firm be adjudged insolvent, and all subsequent proceedings shall be the same as those in cases involving creditors' petitions. Source. 1885, 85:18. PS 201:45. PL 401:46. RL 465:46.

RSA 568:47 Effect; Procedure.

568:47. Effect; Procedure. The insolvency of a partnership shall render each partner insolvent within the meaning of this chapter, and his property not exempt from attachment, books and papers shall pass to the messenger and assignee appointed in the partnership proceedings; but the assignee shall be nominated by the partnership creditors. The expenses of the proceedings shall be deducted from the whole amount received by the assignee. The net proceeds of the partnership and individual property shall be distributed among the creditors of the firm and the creditors of the individual partners according to the rules of equity in such cases. Source. PS 201:46. PL 401:47. RL 465:47.

RSA 568:48 Discharge.

568:48. Discharge. The certificate of discharge shall be granted or refused to each partner as though the proceedings had been against him alone. In all other respects the proceedings against partners shall be conducted as though against a single person. Source. PS 201:47. PL 401:48. RL 465:48.

RSA 568:49 Procedure.

568:49. Procedure. Insolvent corporations created by the laws of this state, except banking and railroad corporations, may make assignments or be proceeded against in insolvency in the same manner as individuals, and the judge for the county where the principal place of business of the corporation is located may issue his warrant and proceed as in other cases. The schedule of creditors and of the estate shall be furnished by the treasurer or other financial officer of the corporation, and all the provisions of this chapter which apply to the debtor or set forth his duties in regard to executing papers, submitting to examinations, disclosing, making over, secreting, concealing, conveying, assigning, paying or conveying away his money or property shall, in like manner and with like force and effect and penalties, apply to each and every officer of the corporation and to the money and property thereof. Source. PS 201:48. PL 401:49. RL 465:49.

RSA 568:50 Officers' Oath.

568:50. Officers' Oath. At the end of 3 months from the beginning of the proceedings, the officers shall severally make and subscribe an oath in substance as follows: I, .......... , (president, etc., or treasurer, etc.), do swear that I believe the account of the creditors of the corporation contained in the schedules signed by .......... , and now on file in court, is in all respects just and true; that I do believe that all the property and estate of said corporation, and all its books of account and papers, have been delivered to the messenger or the assignee; and that, if any goods or estate not so delivered hereafter come to my knowledge, I will faithfully and diligently apprise the assignee thereof. And I do further swear that, to the best of my knowledge, information and belief, there is no part of the estate or effects of the corporation made over or disposed of in any manner in fraud of the laws relating to insolvency or of the creditors of the corporation. Source. PS 201:49. PL 401:50. RL 465:50.

RSA 568:51 Penalty.

568:51. Penalty. If a debtor, or any officer of a corporation against which a petition in insolvency is pending, shall wilfully omit to file a list or schedule as ordered, or shall wilfully and fraudulently give false information or neglect to give true information to the assignee in relation to the estate or the claims of creditors, or to do any act or to furnish or discover any evidence in his power or knowledge material to the just settlement of the estate, he shall be guilty of a misdemeanor. Source. GS 126:6. GL 140:6. 1885, 85:3. PS 201:50. PL 401:51. RL 465:51. RSA 568:51. 1973, 528:317, eff. at 11:59 P.M., Oct. 31, 1973.

RSA 568:52 Procedure.

568:52. Procedure. In all cases of insolvency where the debtor's liability exceeds the sum of $300, if the debtor shall, at the first meeting of the creditors or at any subsequent time appointed by the judge, of which legal notice has been given to the creditors, produce an affidavit signed by him and sworn to before the judge of probate of the following tenor, "I, .......... , of .......... , in the county of .......... , do solemnly swear that I have not removed, concealed or secreted any money, papers, securities, effects or property, real or personal, with the intent, purpose or expectation of receiving, directly or indirectly, any benefit or advantage to myself, and that I have not changed or falsified my books of account, deeds or papers relating to my estate, and that I have not sold, pledged, conveyed or transferred any of my property or estate in anticipation of insolvency, or made any conveyance, mortgage, pledge, transfer or payment to any creditor for the purpose of preferring any of my creditors, and that I have not, directly or indirectly, given any creditor or other person any compensation or promise of reward, except reasonable counsel fees for service, and that my assets and liabilities are correctly stated in the schedule filed in the probate office for the county and signed by me"; and at the same time shall also produce an agreement signed by 3/4 in number of his creditors holding 3/4 of all his indebtedness, the debts of each of whom shall exceed $50, in the following form: "We, the undersigned, creditors of .......... , of .......... , in the county of .......... , do hereby agree to accept .......... percent of our actual net claims against ... , the amounts of which are correctly stated against our respective names, in full discharge of the same; and we further declare that we have not received, directly or indirectly, any compensation or promise of future payment beyond the percent herein named". If the judge shall be satisfied that the agreement is signed by the required proportion of the creditors of the debtor, and that the debtor has paid or secured the percentage named in the agreement according to the terms thereof and all the expenses incurred during the proceedings, he shall give the debtor, under the hand and seal of the court, a full discharge of all his debts and liabilities, not specially excepted, contracted prior to the beginning of the proceedings; provided, that such a discharge shall not prevent any creditor who may not have signed such agreement from proving his claim at any time within 2 months from the beginning of the insolvency proceedings, and having the same allowed at the agreed percentage. Source. 1885, 85:11, 13. 1889, 96:4. PS 201:51. 1895, 88:1. PL 401:52. RL 465:52.

RSA 568:53 Time, etc.

568:53. Time, etc. Appeals in cases of insolvency shall be claimed within 30 days from the rendering of the decision and shall be taken in the same manner and governed by the same rules of procedure as in cases of other appeals from decrees of the judge of probate, except as provided in RSA 568:54. Source. 1862, 2594:12. GS 126:25. GL 140:25. 1885, 85:6. PS 201:52. PL 401:53. RL 465:53.

RSA 568:54 Procedure.

568:54. Procedure. In case of appeal from the allowance or disallowance of the claims of a creditor, the claimant, if appellant, shall file in the office of the clerk, with his statement of reasons for appeal, a declaration in proper form upon his claim; if appellee, he shall file such declaration within 5 days after notice of the appeal. The clerk shall thereupon file in the office of the clerk of the superior court duly attested copies of the papers relating to the appeal. The case shall be in order for trial at the first term of the court, and the result shall be certified to the court of probate. The proceedings there shall be altered to conform thereto. Source. PS 201:53. PL 401:54. RL 465:54. 2011, 88:20, eff. July 1, 2011.

RSA 568:55 Death of Debtor.

568:55. Death of Debtor. If the debtor dies after the issuance of the warrant and while the proceedings are pending, the proceedings shall be continued and conducted in like manner and with like validity and effect as if he had lived. Source. PS 201:54. PL 401:55. RL 465:55.

RSA 568:56 Beginning of Proceedings.

568:56. Beginning of Proceedings. The date of the filing of the debtor's assignment or of the filing of the creditor's petition shall be deemed to be the beginning of proceedings in insolvency under the provisions of this chapter in each case and the time from which other times and dates shall be reckoned. Source. PS 201:55. PL 401:56. RL 465:56.

RSA 568:57 Notices.

568:57. Notices. In all proceedings under this chapter, where notice, either personal or by publication, is required, it shall be for such length of time as the court may order. Source. 1895, 39:1. PL 401:57. RL 465:57.

Source: New Hampshire General Court (gc.nh.gov)URL: https://gc.nh.gov/rsa/html/NHTOC/NHTOC-LVII-568.htmFetched: 10/20/2026