South Dakota § 54-10-10 Value of security, determination by liquidator's sale of assets--Order of sale, requirements.

South Dakota Statutes

§ 54-10-10 — Value of security, determination by liquidator's sale of assets--Order of sale, requirements.

South Dakota § 54-10-10

Title 54DEBTOR AND CREDITOR

Ch. 54-10SECURED CREDITORS' CLAIMS IN LIQUIDATION PROCEEDINGS

This text of South Dakota § 54-10-10 (Value of security, determination by liquidator's sale of assets--Order of sale, requirements.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 54-10-10 (2026).

Text

Under the circumstances described by § 54-10-7 , the court may order the value of the security determined by liquidator's sale of the assets which, when completed and approved by the court, shall pass to the purchaser good title, free and clear of all liens of the secured creditor, such liens to be transferred to the proceeds of the sale. The order of sale may be either (1)    Conditional, requiring the sale to be made by the liquidator only if the secured creditor does not complete a determination by collection or creditor's sale as set forth in §§ 54-10-5 and 54-10-6 within a time fixed by the court; or (2)    Absolute, requiring the sale to be made by the liquidator within a time fixed by the court.

Free access — add to your briefcase to read the full text and ask questions with AI

Under the circumstances described by § 54-10-7 , the court may order the value of the security determined by liquidator's sale of the assets which, when completed and approved by the court, shall pass to the purchaser good title, free and clear of all liens of the secured creditor, such liens to be transferred to the proceeds of the sale. The order of sale may be either (1) Conditional, requiring the sale to be made by the liquidator only if the secured creditor does not complete a determination by collection or creditor's sale as set forth in §§ 54-10-5 and 54-10-6 within a time fixed by the court; or (2) Absolute, requiring the sale to be made by the liquidator within a time fixed by the court.