ARTICLE II.

OF PARTNERSHIP ESTATES.

Sec. 51. Surviving partner may administer on partnership effects -when and how.

Sec. 52. Executors or administrators of member of copartnership to make inventory of property.

Sec. 53. Duty of executors or administrators of deceased partner when surviving partner fails to administer.

Sec. 54. Disposition of property when partner administers.
Sec. 55. Condition of bond.

Sec. 56. Bond may be taken by the proper court in the county in which partner resides.

Sec. 57. Authority of probate over survivor.

Sec. 58. Survivor refusing to act, executor or administrator of deceased member of firm to give bond and take possession of partnership effects; his duties.

Sec. 59. To give further bond; its condition.

Sec. 60. Survivor to exhibit, and in certain cases to surrender, partnership property.

Sec. 61. Failure to comply may be cited; penalty.

Sec. 62. What debts must be exhibited for allowance, and property bound for debts.

Sec. 63. Time for exhibition of claims.

Sec. 64. Who may defend claims against partnership; in what cases, and to what extent.

Sec. 65. This act to govern administrators of partnership effects -to what extent.

Sec. 66. Powers of court in case of resignation or removal of administrators.

Sec. 67. Powers of court in case of death of the administrator or executor.

Sec. 68. Other powers granted court; judgment may be rendered against certain parties.

Sec. 69. Notice to be given.

Sec. 70. Notice to be issued, and by what officer.

Sec. 71. Notice, and the manner of its service.

Sec. 72. Executors of partnership property may bring action to wind up (and settle) partnership business.

Section 51. In case of a death of a member of a copartnership, any surviving partner, resident of this territory, shall have the

right to give the bond hereinafter required, to take an inventory of the partnership effects in the presence of witnesses appointed as provided by law, to cause the same to be appraised, and do all other things touching the administration of the partnership effects in the manner provided by this act; but, when the surviving partner administers, his administration shall be had in the county in which the partnership business was conducted.

Sec. 52. The executor or administrator on the estate of the deceased member of the copartnership shall include in the inventory which he is required by law to return to the probate court the gross amount of the partnership estate, as inventoried and appraised, as provided in the preceding section; but the executor or administrator shall charge himself with an amount equal only to the deceased's proportional part of the copartnership interest.

Sec. 53. If the surviving partner shall not have administered on the estate at the time the executor or administrator of the individual estate of the deceased partner shall proceed to take his inventory, it shall be the duty of such executor or administrator to include in the inventory which he is required by law to return the probate court the whole of the partnership estate, goods, chattels, rights, and credits, appraised at their true value, as in other cases; but the appraisers shall carry out in the footing an amount equal only to the deceased's proportional part of the copartnership interest.

Sec. 54. The property appraised as provided in the last preceding section shall remain with, or be delivered over, as the case may be, to the surviving partner, if a resident of the territory, who may be disposed to undertake, within ten days, letters testamentary, or if administration shall have been granted on the estate of the deceased partner, the management thereof, agreeably to the conditions of a bond which he shall be required to give to the people of the territory of Montana, in such time, and with such securities, as is required in other cases of administration.

Sec. 55. The condition of the bond required to be given by the surviving partner desiring to administer upon the partnership estate shall be in substance as follows: The condition of the above bond is, that if A. B., surviving partner of the late firm of shall use due diligence and fidelity in closing the affairs of the late copartnership, apply the property towards paying the copartnership debts, and render an account annually, or oftener, if required by the probate court having jurisdiction, upon oath in said probate court, of all the partnership affairs, including the property owned by the late firm and the debts due them, as well as what may have been paid by the survivor or survivors towards the partnership debts, and what shall be due and owing therefor, and pay over within one year, unless a longer time be allowed by

the probate court, to the executor or administrator of the individual estate, the excess, if there be any beyond satisfying the partnership debts and costs and expenses in closing the affairs of the copartnership, and coming to said dead partner, then the above bond to be void, otherwise to remain in full force.

Sec. 56. Any bond required by this act may be executed by the surviving partner in the county in which he resides, and may be acknowledged before, and approved by, the probate court, or the clerk of such county, and shall be certified to by the court having probate jurisdiction in the county in which administration has been granted on the estate of the deceased partner, and a bond in a sufficient amount, thus taken, shall be valid and effectual, as if it had been executed and approved in the manner prescribed in the two preceding sections.

Sec. 57. The probate court shall have the same authority to cite such survivor to account, to adjudicate such account, to order payments of demands allowed, and to require additional bonds, as in other cases of ordinary administration, and the parties interested shall have the like remedies, by means of such bonds, for any misconduct or neglect of such survivor as may be had against administrators.

Sec. 58. In case the surviving partner shall neglect or refuse to give the bonds required by this act, within the time herein limited, the executor or administrator of the individual estate of the deceased partner, on giving bond as required in the following sections, shall be entitled to be put into the joint possession of the partnership with the surviving partner or partners, and be entitled, conjointly with him or them, to manage and control such partnership for the purpose of winding up the same and collecting the debts and paying the liabilities owing from such firm, together with the costs and expenses of winding up the business thereof. In such cases the business shall be wound up and settled with as much expedition as possible, and, upon the final settlement of such firm, any amount that shall be found is the proportion of such partnership proceeds as is due the estate of the deceased, shall be paid over to such executor or administrator.

Sec. 59. Before proceeding to administer upon such partnership estates, as provided in the preceding section, such executor or administrator shall be required, by the probate court, to give further bond, to its satisfaction, conditioned that he will faithfully execute that trust, and with no unnecessary waste or expense, which bond may be enforced like other administration bonds.

Sec. 60. Every surviving partner, on the demand of any administrator or executor of a deceased partner, shall exhibit to the appraisers the partnership property belonging to the firm at the time of the death of such deceased partner, for appraisement; and in case the administration thereof shall devolve upon such

administrator or executor, the said survivor shall allow him, on demand, to enter into the possession, jointly with himself, of all the property of such partnership, including their books and papers, and all necessary documents pertaining to the same, and shall afford him all reasonable information and facilities for the execution of his trust.

Sec. 61. Every surviving partner who shall neglect or refuse to comply with the provisions of the preceding section may be cited for such neglect or refusal before the probate court; and unless he comply with such provisions, or show sufficient cause for his omission, the probate court may commit him to the common jail of the county, there to remain until he consent to comply, or is discharged by due course of law.

Sec. 62. In all cases when the surviving partner administers upon the partnership effects, he shall have power to pay off demands against the partnership without requiring the same to be exhibited for allowance to the probate court; and such court shall allow such partner in his settlement, as credits, all demands which he may thus discharge, provided said court shall be satisfied of the justness of the demands. But when such partner shall refuse to pay demands against the partnership estate, and when the administrator or executor of the deceased partner's individual estate takes charge of the partnership effects, conjointly with such surviving partner, all such demands shall be exhibited to the probate court for allowance and classification; and the court shall have the same jurisdiction of demands thus presented as it has of demands against estates in ordinary cases; but no judgment or allowance of the probate court against such survivor or administrator or executor shall bind any other property of the survivor or administrator or executor except the partnership effects.

Sec. 63. All demands presented for allowance or payment. against the partnership effects within the first year after the grant of the administration shall be placed in the first class, and all demands presented after the expiration of one year from the granting of the letters shall be placed in the second class, and all claims not presented or paid within two years from the date of the letters shall be forever barred against the partnership effects administered upon. But in case of any demand against the partnership estate being allowed and paid by the executor or administrator out of the private estate of the deceased partner, then such payment so made shall be charged against the partnership effects, and shall be allowed and included in the final settlement of the partnership administrator or executor.

Sec. 64. In all cases where the administrator or executor of a deceased partner shall, under the law, take charge of the partner's effects, and a demand against such partnership shall be presented

for allowance, any surviving partner or creditor of such partnership shall be entitled to appear in any probate court and defend against the recovery of such claim, and may have the right to appeal from the judgment of the probate court, upon making a similar affidavit and giving such bond as required in other appeals from such court.

Sec. 65. When any executor or administrator takes possession of partnership effects, conjointly with the surviving partner, they shall manage and wind up the business of such firm in the same manner as if the surviving partner had given bonds and taken the sole charge of such business, save that none of the effects of such firm shall be sold on credit. The executor or administrator in such cases shall make a report monthly of the amount of goods sold, the money received therefor, and the disposition of the same, to the probate court. The executor or administrators and partner may at any time sell the effects of the partnership at public auction, under the same instructions as is provided by law for the sale of personal property belonging to

estates.

Sec. 66. If any executor or administrator resign, or his letters be revoked, the probate court shall have power, upon the application of his successor, or the remaining executor or administrator, to ascertain the amount of money, the quantity and kind of real and personal property, and all the rights and credits, deeds, evidences of debt, and papers of every kind, of the testator or intestate, in the hands of such executor or administrator at the time of his resignation or removal from office, and to order and adjudge the rendition of the same to the successor of such executor or administrator, and to enforce such order and judgment against such executor or administrator and his securities, in the following manner: First. For the amount of money specified in the judgment, by the execution in the ordinary form. Second. For all other estate, effects, and papers described in the judgment or order, by attachment against the person or property of such executor or administrator, and in case of the executor or administrator failing or refusing to produce any of the aforesaid effects, proven to be in his possession, the probate court may imprison him or them in the common jail of the county until he complies with such order or decree.

Sec. 67. If any executor or administrator die, the probate court shall have the power, upon application of his successor, or the remaining or surviving executor or administrator, to ascertain the amount of money in the hands of such deceased executor or administrator in his representative capacity at the time of his death, and to render judgment against his securities for the amount so ascertained, and to enforce such judgment by execution. in the ordinary form.