21-21-3. Receivership where corporation dissolved, insolvent or unable to function.
A receiver may be appointed by the court in which an action is pending, or by the judge thereof, in the cases where a corporation has been dissolved, or is insolvent, or is in imminent danger of insolvency, or has forfeited its corporate rights; or is unable to exercise its corporate functions because of continued dissension between or neglect by its stockholders, directors and officers.
Source: CCivP 1877, §219, subdiv 5; CL 1887, §5015, subdiv 5; RCCivP 1903, §227, subdiv 5; RC 1919, §2475 (5); SDC 1939 & Supp 1960, §37.2601 (5).
Structure South Dakota Codified Laws
Section 21-21-1 - Pending actions in which receivership authorized to prevent loss of property.
Section 21-21-2 - Receivership in foreclosure actions to prevent loss to mortgaged property.
Section 21-21-3 - Receivership where corporation dissolved, insolvent or unable to function.
Section 21-21-4 - Grounds for receivership after judgment.
Section 21-21-5 - Receivership under usages of equity.
Section 21-21-7 - Party not to be receiver except by consent.
Section 21-21-8 - Oath and undertaking of receiver.
Section 21-21-9 - Powers of receiver in collection and management of property.
Section 21-21-10 - Investment of receivership funds--Consent of parties.