South Dakota Codified Laws 54-10-6. Security other than obligation for the payment of money–Determination of value
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When the asset constituting the security is something other than an obligation for the payment of money, the secured creditor may determine its value by creditor’s sale.
Terms Used In South Dakota Codified Laws 54-10-6
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Source: SL 1941, ch 162, § 5; SDC Supp 1960, § 37.26A05 (2).