Under the circumstances described by § 54-10-7, the court may order the value of the security determined by litigation, through proceedings in the liquidation proceeding. The liquidator may redeem such assets by paying the value so determined, if authorized by the court.
S.D. Codified Laws § 54-10-9
Value of security, determination by litigation--Redemption of assets by liquidator
Known as the Uniform Act
The act spans §§ 54–54 (14 sections).
Source: SL 1941, ch 162, § 6; SDC Supp 1960, § 37.26A06 (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.