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South Dakota Codified Laws

Chapter 54-9

S.D. Codified Laws ch. 54-9

Assignment for Benefit of Creditors

54-9-1Execution of assignment by insolvent debtor.54-9-2Instrument of assignment--Execution--Acknowledgment or proof--Recording--Defective execution invalidates assignment.54-9-3Subsisting absolute or contingent liability of assignor.54-9-4RepealedRepealed 54-9-5Assignment invalid against creditor of assignor not assenting thereto.54-9-6Property exempt from execution--Life insurance--Effect of assignment.54-9-7Inventory required of assignor--Contents--Verification.54-9-8Recording assignment and filing inventory.54-9-9Effect of omitting to record--Assignment of real property.54-9-10Assent of creditors necessary to modification of assignment.54-9-11Bond of assignee--Amount--Approval of sureties by circuit court--Terms and conditions.54-9-12Disposal or conversion of estate--Authority of assignee.54-9-13Assignee takes subject to rights of third parties--Nonliability for acts done in good faith under void assignment.54-9-13.1Action by assignee against person receiving property of debtor in fraud of creditors.54-9-13.2Action by assignee against creditor receiving voluntary transfer from insolvent assignor.54-9-13.3Duties of assignee.54-9-13.4Notice to creditors to present verified claims--Publication.54-9-13.5Contents of creditor's claim--Claim founded upon instrument.54-9-13.6Time limitation on filing creditor's claim.54-9-13.7Wages and commissions as preferred claims--Limitation on amount--"Traveling or city salesmen" defined.54-9-13.8Sale or compromise of claims or property of estate--Liability of assignee.54-9-13.9Sales at public auction--Procedure for private sales and sales of perishable property.54-9-14Compensation of assignee.54-9-15Proceeding subject to order and supervision of circuit court--Rendition of accounts and filing of reports by assignee--Distribution of trust estate.54-9-15.1Power of court to take and state accounts.54-9-15.2Accountants and attorneys appointed by court--Compensation of attorneys.54-9-16Accounting of assignee.54-9-16.1Deposit of funds in court for distribution subsequent to discharge of assignee.54-9-17Removal of assignee by circuit court--Appointment and delivery of property to successor.54-9-18Removal of assignee by circuit court--Discharge on full accounting and surrender of property to new assignee.54-9-19Discharge of assignee upon full compliance with trust.54-9-20Application of assignee for discharge--Notice by publication.54-9-21Hearing upon application of assignee for discharge--Order requiring the performance of acts not completed--Order of discharge, granting, effect.54-9-22Federal bankruptcy proceedings, possession of estate taken from assignee--Discharge of assignee on full accounting to trustee in bankruptcy.