South Dakota Codified Laws 54-10-2. Secured creditor’s claim against general assets–Disclosure of nature of security
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In a liquidation proceeding every secured creditor’s claim against the general assets shall disclose the nature of the security. When a decedent‘s estate already in the course of administration is judicially declared insolvent or when in an equity receivership it is determined that the subject under receivership is insolvent, secured creditors having claims on file which do not comply with this section shall make disclosure within a time to be fixed by the court.
Terms Used In South Dakota Codified Laws 54-10-2
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Decedent: A deceased person.
Source: SL 1941, ch 162, § 2; SDC Supp 1960, § 37.26A02.