Page:United States Statutes at Large Volume 76A.djvu/443

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–347–

-347erty alleged to have been transferred or conveyed to hinder, delay, or defraud creditors, or the sum adjudged to be due and owing by the transferor of the property to the plaintiff, whichever is the lesser sum. § 1533. Filing and serving undertaking The undertaking shall be filed in the action and a copy thereof served upon the plaintiff or his attorney in the action. § 1534. Objections to sureties and estimated value Within 10 days after service of the copy of the undertaking, the plaintiff may object to the undertaking on the ground of inability of the sureties, or either of them, to pay the sum for which they become bound in the undertaking, and upon the ground that the estimated value of the property therein is less than the market value of the property. The objection to the undertaking shall be made in writing, specifying the ground or grounds of objection, and if the objection is made to the undertaking that the estimated value therein is less than the market value of the property, the objection shall specify the plaintiff's estimate of the market value of the property. The written objection shall be served upon the transferee or grantee, or the successor or assigns of the transferee or grantee giving the undertaking. § 1535. Justification of sureties; determination of sufficiency Exceptions to the sufficiency of the sureties and their justification may be had or taken in the same manner as upon an undertaking on attachment. If they, or others in their place, fail to justify at the time and place appointed, the undertaking shall not become effective. If objection is not taken as provided in this section and section 1534 of this title, the plaintiff is deemed to have waived objections to the sufficiency of the sureties. § 1536. Determination of estimated value of property When objection is made to the undertaking upon the ground that the estimated value of the property, as stated in the undertaking, is less than the market value of the property, the transferee or grantee, or the successor or assign of the transferee or grantee giving the undertaking may accept the estimated value statea by the plaintiff in the objection, and a new undertaking may be at once filed with the plaintiff's estimate stated therein as the estimated value, and objection may not thereafter be made upon that ground. If the plaintiff's estimate of the market value is not accepted, the value of the property shall be determined as provided in section 566 of this title. § 1537. Justification of sureties The sureties shall justify upon the undertaking as required by section 431 of Title 3. § 1538. Effectiveness of undertaking The undertaking shall become effective for the purpose stated in section 1531 of this title, 10 days after service of a copy thereof on the plaintiff, unless objection to the undertaking is made as provided by section 1534 or 1536 of this title, and in case objection is so made to the undertaking filed and served, it shall become effective for that purpose when an order is made by the court approving the sureties, when the surety or sureties are objected to, or affirming the estimate of the value of property when objection is made thereto, or if any objection to the undertaking is sustained by the court when a new undertaking is filed and served as required by section 1535 or 1536, to which no objection is made, or if made is not sustained by the court.