South Dakota Statutes
§ 54-10-5 — Obligation for payment of money as security--Determination of value.
South Dakota·Title 54 DEBTOR AND CREDITOR·Ch. 54-10 SECURED CREDITORS' CLAIMS IN LIQUIDATION PROCEEDINGS
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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South Dakota § 54-10-5 (Obligation for payment of money as security--Determination of value.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
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.