S.D. Codified Laws § 54-10-4

Current through the 2024 Legislative Session

Section 54-10-4 - Dividends to secured creditors-Computation

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.

SDCL 54-10-4

SL 1941, ch 162, § 4; SDC Supp 1960, § 37.26A04.