South Dakota Codified Laws 9-27-3. Payment by municipality of prior lien–Foreclosure after municipal failure topay
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The governing body shall have power to pay a prior lien or liens out of any moneys in its general fund in order to protect its interests in property described by § 9-27-2. The holder of a prior lien may foreclose or otherwise realize upon the same if such municipality shall fail to pay said lien either by a sale of such property or otherwise within ninety days after written demand shall have been made upon the governing body.
Terms Used In South Dakota Codified Laws 9-27-3
- Lien: A claim against real or personal property in satisfaction of a debt.
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
- written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2
Source: SL 1935, ch 156, § 3; SDC 1939, § 45.2120.