South Dakota Codified Laws 36-21A-109. Defense by judgment debtor in action against recovery fund
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The judgment debtor may defend any such action on his own behalf and shall have recourse to all appropriate means of defense and review including examination of witnesses.
Terms Used In South Dakota Codified Laws 36-21A-109
- Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
Source: SL 1992, ch 273, § 109.