Section 51A-15-25 - Execution of lien on assets of bank in director's or receiver's possession prohibited--Powers of director. - South-dakota Statutes

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Statutes > South-dakota > Title-51a > Chapter-15 > Statute-51a-15-25

51A-15-25. Execution of lien on assets of bank in director's or receiver's possession prohibited--Powers of director. No judgment, lien or attachment may be executed upon any asset of the bank while it is in possession of the director. Upon the election of the director or receiver in connection with a liquidation or reorganization:
(1) Any lien or attachment, other than an attorney's or mechanic's lien, obtained upon any asset of the bank during the director's possession or within four months prior to commencement thereof shall be vacated except liens created by the director while in possession.
(2) Any transfer of an asset of the bank made after or in contemplation of its insolvency with intent to effect a preference shall be voided.

Source: SL 1909, ch 222, art 1, § 12; SL 1911, ch 256, § 25; SL 1915, ch 102, art 1, § 22; RC 1919, § 8938; SL 1925, ch 94; SL 1929, ch 74; SDC 1939, § 6.0620; SDCL, § 51-14-30; SL 1969, ch 11, § 13.8; SL 1988, ch 377, § 170; SDCL, § 51-27-17.

State Codes and Statutes

Statutes > South-dakota > Title-51a > Chapter-15 > Statute-51a-15-25

51A-15-25. Execution of lien on assets of bank in director's or receiver's possession prohibited--Powers of director. No judgment, lien or attachment may be executed upon any asset of the bank while it is in possession of the director. Upon the election of the director or receiver in connection with a liquidation or reorganization:
(1) Any lien or attachment, other than an attorney's or mechanic's lien, obtained upon any asset of the bank during the director's possession or within four months prior to commencement thereof shall be vacated except liens created by the director while in possession.
(2) Any transfer of an asset of the bank made after or in contemplation of its insolvency with intent to effect a preference shall be voided.

Source: SL 1909, ch 222, art 1, § 12; SL 1911, ch 256, § 25; SL 1915, ch 102, art 1, § 22; RC 1919, § 8938; SL 1925, ch 94; SL 1929, ch 74; SDC 1939, § 6.0620; SDCL, § 51-14-30; SL 1969, ch 11, § 13.8; SL 1988, ch 377, § 170; SDCL, § 51-27-17.

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State Codes and Statutes

Statutes > South-dakota > Title-51a > Chapter-15 > Statute-51a-15-25

51A-15-25. Execution of lien on assets of bank in director's or receiver's possession prohibited--Powers of director. No judgment, lien or attachment may be executed upon any asset of the bank while it is in possession of the director. Upon the election of the director or receiver in connection with a liquidation or reorganization:
(1) Any lien or attachment, other than an attorney's or mechanic's lien, obtained upon any asset of the bank during the director's possession or within four months prior to commencement thereof shall be vacated except liens created by the director while in possession.
(2) Any transfer of an asset of the bank made after or in contemplation of its insolvency with intent to effect a preference shall be voided.

Source: SL 1909, ch 222, art 1, § 12; SL 1911, ch 256, § 25; SL 1915, ch 102, art 1, § 22; RC 1919, § 8938; SL 1925, ch 94; SL 1929, ch 74; SDC 1939, § 6.0620; SDCL, § 51-14-30; SL 1969, ch 11, § 13.8; SL 1988, ch 377, § 170; SDCL, § 51-27-17.