§ 54-9-13.7 — Wages and commissions as preferred claims--Limitation on amount--"Traveling or city salesmen" defined.

South Dakota § 54-9-13.7

• Jurisdiction: South Dakota
• Title 54: DEBTOR AND CREDITOR
• Ch. 54-9: ASSIGNMENT FOR BENEFIT OF CREDITORS

Text

In all distributions of assets under all assignments made in pursuance of this chapter, the wages and commissions, not to exceed six hundred dollars to each claimant, which have been earned within three months before the date of the commencement of the proceedings, due to workmen, servants, clerks, or traveling or city salesmen on salary or commission basis, whole or part time, whether or not selling exclusively for the assignor; and for the purposes of this claim, the term "traveling or city salesmen" shall include all salesmen, whether or not they are independent contractors selling the products or service of the assignor on a commission basis, with or without a drawing account or formal contract, shall be preferred before any other debt, except debts due to the United States having a priority under federal law; and should the assets of the assignor or assignors not be sufficient to pay in full all the claims preferred, pursuant to this section, they shall be applied to the payment of the same pro rata to the amount of each such claim.

Legislative History

SDC Supp 1960, ch 37.51 as added by SL 1969, ch 162, § 8.