South Dakota Codified Laws 21-28-17. Injunction, receivership, and distribution on judgment against corporation
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When such judgment shall be rendered against a corporation, the court has power to restrain the corporation, to appoint a receiver of its property, and to take an account and make distribution thereof among its creditors; and the state’s attorney must, immediately after the rendition of such judgment, institute proceedings for that purpose.
Terms Used In South Dakota Codified Laws 21-28-17
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
Source: CCivP 1877, § 545; CL 1887, § 5359; RCCivP 1903, § 584; RC 1919, § 2795; SDC 1939 & Supp 1960, § 37.0506.