South Dakota Codified Laws 44-3-2. Marshaling securities among lien holders–Several things within the same class and subjectto same number of liens–Property to which resort may be had
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When several things are within one of the classes described by § 44-3-1 and subject to the same number of liens, resort must be had:
(1) To the things which had not been transferred since the prior lien was created;
Terms Used In South Dakota Codified Laws 44-3-2
- Lien: A claim against real or personal property in satisfaction of a debt.
(2) To the things which have been so transferred without a valuable consideration; and
(3) To the things which have been so transferred for a valuable consideration.
Source: CivC 1877, § 1713, subdiv 4; CL 1887, § 4337, subdiv 4; RCivC 1903, § 2033, subdiv 4; RC 1919, § 1538 (4); SDC 1939, § 39.0114 (4).