South Dakota Codified Laws 9-40-27. Enforcement by bondholders of statutory mortgage and requirements ofchapter
Current as of: 2023 | Check for updates
|
Other versions
Any holder of bonds issued pursuant to this chapter or of any of the coupons may by proper proceeding protect and enforce the statutory mortgage lien conferred by § 9-40-25 and may enforce and compel performance of all duties required by this chapter, including the making and collecting of sufficient rates, the segregation of the income and revenue, and the proper application thereof.
Terms Used In South Dakota Codified Laws 9-40-27
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Source: SL 1931, ch 194, § 7; SDC 1939, § 45.2407.