On the grant of letters testamentary or of administration, the powers of a temporary administrator shall cease, and it shall be his duty at once to settle his accounts with the court or chancellor in vacation and to deliver all the estate that may be in his hands to the person to whom letters testamentary or of administration shall have been granted. In case of refusal, the court or chancellor may proceed against him by attachment and impose a fine, as for a contempt, not exceeding twenty percent (20%) upon the amount of the estate in his hands; and his bond may be put in suit by the executor or administrator. The temporary administrator shall, at the same time, furnish the executor or administrator with a list of all judgments or suits to which he is a party. The court, or chancellor in vacation, may allow the temporary administrator such compensation as may be just, not exceeding five percent (5%) on the amount of the estate inventoried by him.
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