7-19-4. Resolution for compromise of mortgage indebtedness.
The compromise authorized by §7-19-3 shall be by resolution duly made and entered of record, setting forth the description of the land secured by said mortgage, the amount due thereon for principal, interest, and taxes, and the sum for which said mortgaged indebtedness is being compromised, which said resolution shall be passed by a unanimous affirmative vote of said board of county commissioners.
Source: SL 1935, ch 81, §2; SDC 1939, §12.1916.
Structure South Dakota Codified Laws
Chapter 19 - Prosecution Of Claims By County
Section 7-19-1 - Circuit court authorization for commencement and prosecution of action.
Section 7-19-2 - County purchase of real estate sold on execution.
Section 7-19-3 - Compromise of mortgage indebtedness authorized on refinancing.
Section 7-19-4 - Resolution for compromise of mortgage indebtedness.
Section 7-19-5 - Circuit court hearing and confirmation of mortgage indebtedness compromise.
Section 7-19-6 - Validation of prior mortgage compromises by county commissioners.
Section 7-19-7 - School mortgage obligation to state unimpaired.
Section 7-19-8 - Action to set aside mortgage compromise prohibited.
Section 7-19-9 - Action to set aside county conveyance after mortgage compromise prohibited.