South Dakota Codified Laws 58-29B-81. Preferred creditor–Setoff for new credit issued in good faith
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If a creditor has been preferred, and afterward in good faith gives the insurer further credit without security of any kind, for property which becomes a part of the insurer’s estate, the amount of the new credit remaining unpaid at the time of the petition may be set off against the preference which would otherwise be recoverable from him.
Terms Used In South Dakota Codified Laws 58-29B-81
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
Source: SL 1989, ch 436, § 81.