54-10-8. Value of security, determination by compromise--Redemption of assets by liquidator.
Under the circumstances described by §54-10-7, the court may order the value of the security determined by compromise, if the secured creditor and the liquidator agree upon a value. The liquidator may redeem such assets by payment of the agreed value, if authorized by the court.
Source: SL 1941, ch 162, §6; SDC Supp 1960, §37.26A06 (1).
Structure South Dakota Codified Laws
Title 54 - Debtor and Creditor
Chapter 10 - Secured Creditors' Claims In Liquidation Proceedings
Section 54-10-1 - Definition of terms.
Section 54-10-2 - Secured creditor's claim against general assets--Disclosure of nature of security.
Section 54-10-4 - Dividends to secured creditors--Computation.
Section 54-10-5 - Obligation for payment of money as security--Determination of value.
Section 54-10-6 - Security other than obligation for the payment of money--Determination of value.
Section 54-10-11 - Value of exempt security not credited upon claim.
Section 54-10-12 - Application of chapter to existing transactions.