There is a newer version of the South Dakota Codified Laws
2011 South Dakota Code
Title 54 DEBTOR AND CREDITOR
Chapter 09. Assignment For Benefit Of Creditors
§54-9-1 Execution of assignment by insolvent debtor.
SD Codified L § 54-9-1 (through 2011) What's This?
54-9-1. Execution of assignment by insolvent debtor. An insolvent debtor, as defined by the statutes of fraudulent conveyance, may, in good faith, execute an assignment of property to one or more assignees, in trust towards the satisfaction of his creditors, in conformity to the provisions of this chapter, subject, however, to the provisions of the statutes relative to trusts and to fraudulent transfers, and to the restrictions imposed by law upon assignments by special partnerships, by corporations or by other specified classes of persons.
Source: CivC 1877, § 2027; CL 1887, § 4660; RCivC 1903, § 2372; RC 1919, § 2045; SDC 1939 & Supp 1960, § 37.5101.
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