54-8-21. Assignment or transfer of property to preferred creditors as felony--Exception.
Every person who, knowing that his property is insufficient for the payment of all his lawful debts, assigns, transfers, or delivers any property for the benefit of any creditor, or creditors, upon any trust or condition that any creditor shall receive a preference or priority over any other, except in the cases in which such preference is expressly allowed to be given by law, or with intent to create such preference or priority, is guilty of a Class 6 felony.
Source: PenC 1877, §637; CL 1887, §6839; RPenC 1903, §668; RC 1919, §4279; SDC 1939, §13.4303; SL 1980, ch 24, §106; SL 1986, ch 406.
Structure South Dakota Codified Laws
Title 54 - Debtor and Creditor
Chapter 08 - Acts In Fraud Of Creditors
Section 54-8-1 - Transfer with intent to delay or defraud creditors void.
Section 54-8-3 - Avoidance of act or obligation of debtor for fraud--Obstruction of legal process.
Section 54-8-4 - Fraudulent intent--Question of fact--Inadequacy of consideration.
Section 54-8-21 - Assignment or transfer of property to preferred creditors as felony--Exception.
Section 54-8-22 - Party to transfer or assignment of property to defraud creditors guilty of felony.
Section 54-8-23 - Fraud in bankruptcy proceedings--Misdemeanor.