South Dakota Statutes
§ 54-10-4 — Dividends to secured creditors--Computation.
South Dakota·Title 54 DEBTOR AND CREDITOR·Ch. 54-10 SECURED CREDITORS' CLAIMS IN LIQUIDATION PROCEEDINGS
Dividends paid to secured creditors shall be computed only upon the balance due after the value of all security not exempt from the claims of unsecured creditors and not released or surrendered to the liquidator, is determined and credited upon the claim secured by it.
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South Dakota § 54-10-4 (Dividends to secured creditors--Computation.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1941, ch 162, § 4; SDC Supp 1960, § 37.26A04.
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.