West Virginia Code § 38-13-11

Report by fiduciary commissioner; appeal from decision; allowance of
Open in Lexace · Ask the AI about this section
expenses and fees; directions to trustee; dividends; closing trusteeship.
At the meeting of the creditors held following the filing of the trustee's report the fiduciary
commissioner shall file a report showing how much, if anything, he has allowed on each of
the disputed claims. Any party interested may, within ten days thereafter, appeal from the
decision of the fiduciary commissioner to the circuit court of the county witheout any formal
bill of exceptions, and the appeal shall be tried and heard in the circuit court, or before the
judge thereof in vacation, on the record made before the fiduciary comrmissioner. At the
same meeting the fiduciary commissioner shall approve such expenditures, costs and
expenses as he may find necessary and proper in the administration of the estate; shall
direct the payment of proper fees and fiduciary commissions; shall direct the trustee to
distribute the funds in his hands belonging to secured credittors; and shall direct the trustee
to pay a dividend of an equal percent on all allowed claims, except such as have priority or
are secured. A secured creditor whose claim is in excess of the security held may share in
such dividend on such excess only. The trustee shall not pay such dividend until the time has
expired within which an appeal may be taken from the decision of the fiduciary
commissioner on a disputed claim, and if any such appeal is pending the trustee shall retain
in his hands sufficient money to pay the same dividend thereon, should the claim be allowed
on appeal, and shall distribute the remainder to the creditors entitled thereto. After paying
any dividend the trustee shall file with the fiduciary commissioner a copy of a dividend sheet
showing to whom the dividend was paid. If all of the property belonging to the estate has not
been disposed of at the time oef said meeting, the trustee shall from time to time make
further reports to the fiduciary commissioner, and the fiduciary commissioner may direct the
trustee to pay further coLsts, expenses, fees and dividends. Dividends which are unclaimed
for six months shall be distributed among the remaining creditors whose claims have been
allowed. After the tru stee has disposed of all the property belonging to the estate, and has
paid out all ofV the funds which have come into his hands, he shall without delay make a final
report in duplicate to the fiduciary commissioner showing all his receipts and
disbursements, and if the fiduciary commissioner finds the same correct and approves it, the
fiduciary commissioner shall enter an order discharging the trustee, a copy of which order
the fiduciary commissioner shall furnish to the surety on the bond of the trustee, and the
fiduciary commissioner shall transmit a copy of said order and a copy of the final report of
the trustee to the clerk of the county commission to be filed.

‹ Prev All West Virginia sections Next ›


Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.