Chap. 0531. An Act to provide that shares of corporations shall be attached only in equity.

Be it enacted, etc., as follows:

Section 1. Sections sixty-six, sixty-seven and sixty-eight of chapter one hundred and sixty-seven, and sections forty-six, forty-seven, forty-eight, forty-nine, fifty and fifty-one of chapter one hundred and seventy-seven of the Revised Laws are hereby repealed.
Sectiox' 2. Clause 7 of section three of chapter one hundred and fifty-nine of the Revised Laws, as amended by section twenty-three of chapter five hundred and forty-four of the acts of the year nineteen hundred and two, is hereby further amended by adding at the end thereof the following : - Also suits to reach and apply shares or interests in corporations organized under the laws of this commonwealth or of the United States, and located or having a general office in this commonwealth, whether the plaintiff is a creditor or not, and whether the suit is founded upon a debt or not, - so as to read as follows: - Clause 7. Suits by creditors to reach and apply, in payment of a debt, any property, right, title or interest, legal or equitable, of a debtor, within or without this commonwealth, which cannot be reached to be attached or taken on execution in an action at law, although the amount of the debt is less than one hundred dollars or the property sought to be reached and applied is in the hands, possession or control of the debtor independently of any other person or cannot be
reached and applied until a future time or is of uncertain value, if the value can be ascertained by sale, appraisal or by any means within the ordinary procedure of the court. In such suit, the interest of the defendant in partnership property may be reached and applied in payment of the plaintiff's debt; but unless it is a judgment debt, the business of the partnership shall not be enjoined or otherwise interrupted further than to restrain the withdrawal of any portion of the debtor's share or interest therein until the plaintiff's debt is established; and if either partner gives to the plaintiff a sufficient bond with sureties approved by the clerk, conditioned to pay to the plaintiff the amount of his debt, and costs within thirty days after it is established, the court shall proceed no further therein than to establish the debt; and upon the filing of such bond, any injunction previously issued in such suit shall be dissolved. Also suits to reach and apply shares or interests in corporations organized under the laws of this commonwealth or of the United States, and located or having a general office in this commonwealth, whether the plaintiff is a creditor or not. and whether the suit is founded upon a debt or not.
Approved May 18, 1910.