South Dakota Codified Laws 54-1-5. Marshaling of funds–Rights of creditor
Current as of: 2023 | Check for updates
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Where a creditor is entitled to resort to each of several funds for the satisfaction of his claim, and another person has an interest in or is entitled as a creditor to resort to some but not all of them, the latter may require the former to seek satisfaction from those funds to which the latter has no such claim so far as it can be done without impairing the right of the former to complete satisfaction, and without doing injustice to third persons.
Terms Used In South Dakota Codified Laws 54-1-5
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
- Third persons: includes all who are not parties to the obligation or transaction concerning which the phrase is used. See South Dakota Codified Laws 2-14-2
Source: CivC 1877, § 2022; CL 1887, § 4655; RCivC 1903, § 2367; RC 1919, § 2040; SDC 1939, § 23.0104.