South Dakota Codified Laws 21-18-16. Judgment not rendered on foreign corporation’s liability paid by negotiableinstrument
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No judgment shall be rendered upon a liability of the garnishee arising by reason of any money or indebtedness due and owing to the principal defendant from a foreign corporation, which such corporation shall have paid, or for which it shall have issued its negotiable check, draft, or bill of exchange, prior to actual notice to said corporation of service of summons in garnishment.
Terms Used In South Dakota Codified Laws 21-18-16
- 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.
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
- Summons: Another word for subpoena used by the criminal justice system.
Source: SL 1925, ch 183; SDC 1939 & Supp 1960, § 37.2819 (5).