1945. Duty of trustee. Every trustee is required to pay the debts of the imprisoned debtor in the manner directed in section numbered one thousand nine hundred and forty-one; and after paying such debts, the trustee shall apply the surplus, from time to time, to the support of the wife and children of such debtor, under the direction of the superior court; and whenever such imprisoned debtor is lawfully discharged from his imprisonment, the trustee so appointed shall deliver up to him all the estate, real and personal, of such debtor, after retaining a sufficient sum to satisfy the expenses incurred in the execution of the trust and lawful commissions therefor. Code, s. 2976; 1868-9, c. 162, s. 43.

1946. Trustee to make returns. Such trustee shall make his returns and have his accounts audited and settled by the clerk of the superior court of the county where the proceeding was had, in like manner as provided for personal representatives.

Code, s. 2978; 1868-9, c. 162, s. 45.

1947. Oath of trustee. Before proceeding to the discharge of his duty, such trustee shall take and subscribe an oath, well and truly to execute his trust according to his best skill and understanding; which oath must be filed with the clerk of the superior court. Code, s. 2979; 1868-9, c. 162, s. 46.

1948. May appoint several trustees. The court shall have power, when deemed necessary, to appoint more than one person trustee under this chapter; but in reference to the rights, authorities. and duties conferred herein, all such trustees shall be deemed one person in law.

Code, s. 2980; 1868-9, c. 162, s. 47.

1949. Court may remove trustee and appoint successor. In case of the death, removal, resignation or other disability of a trustee, the court making the appointment may from time to time supply the vacancy; and all proceedings may be continued by the successor in office in like manner as in the first instance.

Code, s. 2981; 1868-9, c. 162, s. 48.

six

CHAPTER 44.

INTEREST.

(Sections 1950–1956.)

1950. Rate of, six per cent. The legal rate of interest shall be per centum per annum for such time as interest may accrue, and

no more.

Code, s. 3385; 1895, c. 69; 1876-7, c. 91.

1951. Penalty for usury; corporate bonds sold below par. The taking, receiving, reserving or charging a greater rate of interest than six per centum per annum, either before or after the interest may accrue, when knowingly done, shall be a forfeiture of the entire interest which the note or other evidence of debt carries with it, or which has been agreed to be paid thereon. And in case a greater rate of interest has been paid, the person or his legal representatives or corporation by whom it has been paid, may recover back twice the amount of interest paid, in an action in the nature of action for debt: Provided, that in any action brought in any court of competent jurisdiction to recover upon any such note or other evidence of debt, it shall be lawful for the party against whom the action is brought to plead as a counterclaim the penalty above provided for, to-wit, twice the amount of interest paid as aforesaid, and also the forfeiture of the entire interest: Provided further, that nothing contained in the foregoing section shall be held or construed to prohibit private corporations from paying a commission on or for the sale of their coupon bonds, nor from selling such bonds for less than the par value thereof. This section shall not apply to contracts executed prior to February twenty-first, one thousand eight hundred and ninety-five.

Code, s. 3836; 1895, c. 69; 1903, c. 154; 1876-7, c. 91.

Note. For limitation of actions, see Civil Procedure, s. 396.

For damages against officers for money unlawfully detained, see s. 284.
For special usury statute for New Hanover and Guilford counties, see 1905, c.

819.

1952. Time from which it runs. Interest is due and payable on instruments, as follows:

1. Where the instrument provides for the payment of interest without specifying the date from which interest is to run, the interest runs from the date of the instrument, and if the instrument is undated, from the issue thereof.

2. All bonds, bills, notes, bills of exchange, liquidated and settled accounts, shall bear interest from the time they become due, provided such liquidated and settled accounts be signed by the debtor, unless it be specially expressed that interest is not to accrue until a time mentioned in the said writings or securities.

3. All bills, bonds, or notes payable on demand, shall be held and deemed to be due when demandable by the creditor, and shall bear interest from the time they are demandable, unless otherwise expressed.

4. All securities for the payment or delivery of specific articles shall bear interest as moneyed contracts; and the articles shall be rated by the jury at the time they become due.

5. Bills of exchange which shall be drawn or indorsed in the state, and have been protested, shall carry interest, not from the date. thereof, but from the time of payment therein mentioned.

Code, ss. 44, 45, 46, 47; 1899, c. 733, s. 17, sub-s. 2; R. C., c. 13; 1786, c. 248; 1828, c. 2.

1953. Guardian notes bear compound. Guardians shall have power to lend any portion of the estate of their wards upon bond with sufficient security, to be repaid with interest annually, and all the bonds, notes or other obligations which he shall take as guardian, shall bear compound interest, for which he must account, and he may assign the same to the ward on settlement with him.

Code, s. 1592; R. C., c. 54, s. 23; 1762, c. 69; 1816, c. 925; 1868-9, c. 201, s. 29.

1954. Contracts, except penal bonds and judgments to bear; jury to distinguish principal from. All sums of money due by contract of any kind whatsoever, excepting money due on penal bonds, shall bear interest, and when a jury shall render a verdict therefor they shall distinguish the principal from the sum allowed as interest; and the principal sum due on all such contracts shall bear interest from the time of rendering judgment thereon until it be paid and satisfied. In like manner, the amount of any judgment or decree, except the costs, rendered or adjudged in any kind of action, though not on contract, shall bear interest till paid, and the judgment and decree of the court shall be rendered according to this section.

Code, s.

530; R. C., c. 31, s. 90; 1786, c. 253; 1789, c. 314, s. 4; 1807, c. 721.

1955. After verdict or report, computed by clerk. When the judgment is for the recovery of money, interest from the time of the verdict or report until judgment be finally entered shall be computed by the clerk and added to the costs of the party entitled thereto.

1956. Judgment by default final, clerk ascertains. Whenever a suit shall be instituted on a single bond, a covenant for the payment of money, bill of exchange, promissory note, or a signed account, and the defendant shall not plead to issue thereon, upon judgment, the clerk of the court shall ascertain the interest due by law, without a writ of inquiry, and the amount shall be included in the final judgment of the court as damages, which judgment shall be rendered therein in the manner prescribed by section one thousand nine hundred and fifty-four.

Code, s. 531; R. C., c. 31, s. 91; 1797, c. 475.

1957. List made by county commissioners. The board of county commissioners for the several counties at their regular meeting on the first Monday in June, in the year nineteen hundred and five and every two years thereafter, shall cause their clerks to lay before them the tax returns of the preceding year for their county, from which they shall proceed to select the names of all such persons as have paid all the taxes assessed against them for the preceding year and are of good moral character and of sufficient intelligence. A list of the names thus selected shall be made out by the clerk of the board of commissioners and shall constitute the jury list, and shall be preserved as such.

1899, c. 729; Code, ss. 1722, 1723; 1897, cc. 117, 539; 1889, c. 559; 1806, c. 694.

1958. Names put in boxes. The commissioners at their regular meeting on the first Monday in July in the year nineteen hundred and five, and every two years thereafter, shall cause the names on their jury list to be copied on small scrolls of paper of equal size and put into a box procured for that purpose, which must have two divisions marked No. 1 and No. 2, respectively, and two locks, the

key of one to be kept by the sheriff of the county, the other by the chairman of the board of commissioners, and the box by the clerk of the board.

Code, s. 1726; 1868-9, c. 9, s. 5.

Note. For manner of drawing jury in Guilford, see 1905, c. 613.

1959. Drawn from box, how. At least twenty days before each regular or special term of the superior court, the board of commissioners of the county shall cause to be drawn from the jury box out of the partition marked No. 1 by a child not more than ten years of age, thirty-six scrolls (in Cumberland county the commissioners may, in their discretion, cause to be drawn from the jury box an additional twelve scrolls), except when the term of court is for the trial of civil cases exclusively, when they need not draw more than twentyfour scrolls, and the persons whose names are inscribed on said scrolls shall serve as jurors at the term of the superior court to be held for the county ensuing such drawing, and for which they are drawn, and the scrolls so drawn to make the jury shall be put into the partition marked No. 2. The said commissioners shall at the same time and in the same manner draw the names of eighteen persons who shall be summoned to appear and serve during the second week (except in the counties of Iredell and Rowan, where twenty-four jurors shall be drawn, and except in Hertford county, where fifteen extra jurors shall be drawn), and a like number for each succeeding week of the term of said court, unless the judge thereof shall sooner discharge all jurors from further service; and the trial jury which has served during each week, shall be discharged by the judge at the close of said week, unless the said jury shall be then actually engaged in the trial of a case, and then they shall not be discharged until the trial is determined. The said commissioners may, at the same time and in the same manner, draw the names of eighteen other persons, who shall serve as petit jurors for the week for which they are drawn and summoned.

Code, ss. 1727, 1731; 1889, c. 559; 1897, c. 117; 1868-9, c. 175; 1868-9, c. 9, s. 6; 1806, c. 694; 1901, c. 636; 1901, c. 28, s. 3; 1903, c. 11; 1905, cc. 38, 76, s. 4; 1905, c. 285.

1960. Jurors with suits pending. If any of the jurors drawn have a suit pending and at issue in the superior court, the scrolls with their names must be returned into partition No. 1 of the jury box.

Code, s. 1728; 1868-9, c. 9, s. 7; 1806, c. 694.

1961. When disqualified persons are drawn. If any of the persons drawn to serve as jurors be dead, removed out of the county, or otherwise disqualified to serve as jurors, the scrolls with the