The court in proceedings to liquidate the assets and affairs of a corporation shall have power to allow, from time to time, as expenses of the liquidation, compensation to the receiver or receivers and to attorneys in the proceeding, and to direct the payment thereof out of the assets of the corporation or the proceeds of any sale or disposition of such assets.
S.D. Codified Laws § 47-26-31
Expenses of liquidation--Compensation of receiver--Attorneys' fees
Applied in 1 court decision — leading case Wipf v. Hutterville Hutterian Brethren, Inc. (2013)
Most recently applied in Wipf v. Hutterville Hutterian Brethren, Inc. (July 2013)
Source: SL 1965, ch 24, § 57.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.