South Dakota § 44-3-1 Marshaling securities among lien holders--Lien upon several things--Subordinate interest of others in some of the things--Classes of property to which resort may be had.

South Dakota Statutes

§ 44-3-1 — Marshaling securities among lien holders--Lien upon several things--Subordinate interest of others in some of the things--Classes of property to which resort may be had.

South Dakota·Title 44 LIENS·Ch. 44-3 REDEMPTION, SATISFACTION, MARSHALING AND MERGER OF LIENS

Where one has a lien upon several things and other persons have subordinate liens upon or interests in some but not all of the same things, the person having the prior lien, if he can do so without risk of loss to himself or of injustice to other persons, must resort to the property in the following order on the demand of any party interested:

(1)To the things on which he has exclusive lien;

(2)To the things which are subject to the fewest subordinate liens; and (3) In like manner inversely to the number of subordinate liens upon the same thing.

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Where one has a lien upon several things and other persons have subordinate liens upon or interests in some but not all of the same things, the person having the prior lien, if he can do so without risk of loss to himself or of injustice to other persons, must resort to the property in the following order on the demand of any party interested: (1) To the things on which he has exclusive lien; (2) To the things which are subject to the fewest subordinate liens; and (3) In like manner inversely to the number of subordinate liens upon the same thing.

South Dakota § 44-3-1 (Marshaling securities among lien holders--Lien upon several things--Subordinate interest of others in some of the things--Classes of property to which resort may be had.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.