Within thirty days after the date of an assignment for the benefit of creditors, the assignee must enter into a bond to this state, in double the amount of the value of the property assigned, with sufficient sureties, to be approved by the judge of the circuit court for the county in which the original inventory is filed, and conditioned for the faithful discharge of the trust, and due accounting for all moneys received by the assignee, which bond must be filed in the same office with the original inventory.
S.D. Codified Laws § 54-9-11
Bond of assignee--Amount--Approval of sureties by circuit court--Terms and conditions
Applied in 1 court decision — leading case United States Shoe Corp. v. Cudmore-Neiber Shoe Co. (1976)
Most recently applied in United States Shoe Corp. v. Cudmore-Neiber Shoe Co. (September 1976)
Source: CivC 1877, § 2040; CL 1887, § 4673; RCivC 1903, § 2385; RC 1919, § 2058; SDC 1939 & Supp 1960, § 37.5108.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.