54-1-5. Marshaling of funds--Rights of creditor.
Where a creditor is entitled to resort to each of several funds for the satisfaction of his claim, and another person has an interest in or is entitled as a creditor to resort to some but not all of them, the latter may require the former to seek satisfaction from those funds to which the latter has no such claim so far as it can be done without impairing the right of the former to complete satisfaction, and without doing injustice to third persons.
Source: CivC 1877, §2022; CL 1887, §4655; RCivC 1903, §2367; RC 1919, §2040; SDC 1939, §23.0104.
Structure South Dakota Codified Laws
Title 54 - Debtor and Creditor
Chapter 01 - Definitions And General Provisions
Section 54-1-1 - Definition of terms--Debtor--Creditor.
Section 54-1-2 - Loan of money defined.
Section 54-1-3 - Debtor's contract valid in the absence of fraud.
Section 54-1-4 - Preference of creditors by debtor.
Section 54-1-5 - Marshaling of funds--Rights of creditor.
Section 54-1-6 - "Open account" defined.
Section 54-1-7 - Open account--Interest rates.
Section 54-1-8 - Open account--Notice of interest rate increase.