South Dakota Statutes
§ 54-10-5 — Obligation for payment of money as security--Determination of value.
South Dakota § 54-10-5
JurisdictionSouth Dakota
Title 54DEBTOR AND CREDITOR
Ch. 54-10SECURED CREDITORS' CLAIMS IN LIQUIDATION PROCEEDINGS
This text of South Dakota § 54-10-5 (Obligation for payment of money as security--Determination of value.) 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 § 54-10-5 (2026).
Text
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.
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Legislative History
SL 1941, ch 162, § 5; SDC Supp 1960, § 37.26A05 (1).
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.Cite This Page — Counsel Stack
Bluebook (online)
South Dakota § 54-10-5, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/54-10-5.