Statutes, codes, and regulations
South Dakota Codified Laws
Title 54 - DEBTOR AND CREDITOR
Chapter 10 - SECURED CREDITORS' CLAIMS IN LIQUIDATION PROCEEDINGS
Section 54-10-5 - Obligation for payment of money as security-Determination of value

S.D. Codified Laws § 54-10-5

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Current through the 2024 Legislative Session
Section 54-10-5 - Obligation for payment of money as security-Determination of value

When the asset constituting the security is an obligation for the payment of money, the secured creditor may determine its value by collection or by exhausting his remedies thereon and then surrendering the obligation to the liquidator.

SDCL 54-10-5

SL 1941, ch 162, § 5; SDC Supp 1960, § 37.26A05 (1).