When the asset constituting the security is something other than an obligation for the payment of money, the secured creditor may determine its value by creditor's sale.
S.D. Codified Laws § 54-10-6
Security other than obligation for the payment of money--Determination of value
Known as the Uniform Act
The act spans §§ 54–54 (14 sections).
Source: SL 1941, ch 162, § 5; SDC Supp 1960, § 37.26A05 (2).
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.