South Dakota Codified Laws 25-4-77. Remedies for intentional concealment of omitted assets
Current as of: 2023 | Check for updates
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If the court finds the omitted assets were intentionally concealed by the nonmoving party or the nonmoving party’s agent, the court may order an equitable division of the omitted assets’ appreciated value, a forfeiture of the omitted assets to the moving party, or any other appropriate distribution. In addition, the court may award either compensatory damages or punitive damages, or both, to the moving party.
Terms Used In South Dakota Codified Laws 25-4-77
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
Source: SL 2013, ch 118, § 3.