South Dakota Statutes
§ 54-1-5 — Marshaling of funds--Rights of creditor.
Where a creditor is entitled to resort to each of several funds for the satisfaction of his claim, and another person has an interest in or is entitled as a creditor to resort to some but not all of them, the latter may require the former to seek satisfaction from those funds to which the latter has no such claim so far as it can be done without impairing the right of the former to complete satisfaction, and without doing injustice to third persons.
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South Dakota § 54-1-5 (Marshaling of funds--Rights of creditor.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
CivC 1877, § 2022; CL 1887, § 4655; RCivC 1903, § 2367; RC 1919, § 2040; SDC 1939, § 23.0104.
Nearby Sections
15
§ 54-1-2
Loan of money defined.§ 54-1-6
"Open account" defined.§ 54-1-7
Open account--Interest rates.§ 54-1-9
"Securitization" defined.§ 54-10-1
Definition of terms.§ 54-10-10
Value of security, determination by liquidator's sale of assets--Order of sale, requirements.§ 54-10-13
Uniformity of interpretation of chapter.