South Dakota Statutes

§ 58-29B-75 — Lien by legal or equitable proceedings--Superiority to rights of transferee.

South Dakota·Title 58 INSURANCE·Ch. 58-29A INSURERS SUPERVISION, REHABILITATION AND LIQUIDATION
A lien obtainable by legal or equitable proceedings could become superior to the rights of a transferee, or a purchaser could obtain rights superior to the rights of a transferee within the meaning of §§ 58-29B-69 to 58-29B-72 , inclusive, if such consequences would follow only from the lien or purchase itself, or from the lien or purchaser, with or without the aid of ministerial action by public officials. Such a lien could not, however, become superior and such a purchase could not create superior rights for the purpose of §§ 58-29B-69 to 58-29B-72 , inclusive, through any acts subsequent to the obtaining of such a lien or subsequent to such a purchase which require the agreement or concurrence of any third party or which require any further judicial action or ruling.

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South Dakota § 58-29B-75 (Lien by legal or equitable proceedings--Superiority to rights of transferee.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

SL 1989, ch 436, § 75.

Nearby Sections

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