South Dakota Codified Laws
Chapter 09 - Assignment For Benefit Of Creditors
Section 54-9-22 - Federal bankruptcy proceedings, possession of estate taken from assignee--Discharge of assignee on full accounting to trustee in bankruptcy.

54-9-22. Federal bankruptcy proceedings, possession of estate taken from assignee--Discharge of assignee on full accounting to trustee in bankruptcy.
Whenever the trust estate shall have been taken out of the hands of the assignee by proceedings in bankruptcy in the federal court, the assignee may in like manner be discharged, upon showing that he has fully accounted to the trustee in bankruptcy, and turned over to him the whole of the trust estate.

Source: SL 1887, ch 8, §1; SL 1887, ch 9, §1; CL 1887, §4675; RCivC 1903, §2387; RC 1919, §2060; SDC 1939 & Supp 1960, §37.5110.

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Structure South Dakota Codified Laws

South Dakota Codified Laws

Title 54 - Debtor and Creditor

Chapter 09 - Assignment For Benefit Of Creditors

Section 54-9-1 - Execution of assignment by insolvent debtor.

Section 54-9-2 - Instrument of assignment--Execution--Acknowledgment or proof--Recording--Defective execution invalidates assignment.

Section 54-9-3 - Subsisting absolute or contingent liability of assignor.

Section 54-9-5 - Assignment invalid against creditor of assignor not assenting thereto.

Section 54-9-6 - Property exempt from execution--Life insurance--Effect of assignment.

Section 54-9-7 - Inventory required of assignor--Contents--Verification.

Section 54-9-8 - Recording assignment and filing inventory.

Section 54-9-9 - Effect of omitting to record--Assignment of real property.

Section 54-9-10 - Assent of creditors necessary to modification of assignment.

Section 54-9-11 - Bond of assignee--Amount--Approval of sureties by circuit court--Terms and conditions.

Section 54-9-12 - Disposal or conversion of estate--Authority of assignee.

Section 54-9-13 - Assignee takes subject to rights of third parties--Nonliability for acts done in good faith under void assignment.

Section 54-9-13.1 - Action by assignee against person receiving property of debtor in fraud of creditors.

Section 54-9-13.2 - Action by assignee against creditor receiving voluntary transfer from insolvent assignor.

Section 54-9-13.3 - Duties of assignee.

Section 54-9-13.4 - Notice to creditors to present verified claims--Publication.

Section 54-9-13.5 - Contents of creditor's claim--Claim founded upon instrument.

Section 54-9-13.6 - Time limitation on filing creditor's claim.

Section 54-9-13.7 - Wages and commissions as preferred claims--Limitation on amount--"Traveling or city salesmen" defined.

Section 54-9-13.8 - Sale or compromise of claims or property of estate--Liability of assignee.

Section 54-9-13.9 - Sales at public auction--Procedure for private sales and sales of perishable property.

Section 54-9-14 - Compensation of assignee.

Section 54-9-15 - Proceeding subject to order and supervision of circuit court--Rendition of accounts and filing of reports by assignee--Distribution of trust estate.

Section 54-9-15.1 - Power of court to take and state accounts.

Section 54-9-15.2 - Accountants and attorneys appointed by court--Compensation of attorneys.

Section 54-9-16 - Accounting of assignee.

Section 54-9-16.1 - Deposit of funds in court for distribution subsequent to discharge of assignee.

Section 54-9-17 - Removal of assignee by circuit court--Appointment and delivery of property to successor.

Section 54-9-18 - Removal of assignee by circuit court--Discharge on full accounting and surrender of property to new assignee.

Section 54-9-19 - Discharge of assignee upon full compliance with trust.

Section 54-9-20 - Application of assignee for discharge--Notice by publication.

Section 54-9-21 - Hearing upon application of assignee for discharge--Order requiring the performance of acts not completed--Order of discharge, granting, effect.

Section 54-9-22 - Federal bankruptcy proceedings, possession of estate taken from assignee--Discharge of assignee on full accounting to trustee in bankruptcy.