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Power of court in liquidation proceedings--Action by creditor.

SDCL § 47-26-23
in effect
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47-26-23. Power of court in liquidation proceedings--Action by creditor. Courts of equity shall have full power to liquidate the assets and affairs of a corporation in an action by a creditor: (1) When the claim of the creditor has been reduced to judgment and an execution thereon has been returned unsatisfied and it is established that the corporation is insolvent; or (2) When the corporation has admitted in writing that the claim of the creditor is due and owing and it is established that the corporation is insolvent. SL 1965, ch 24, § 56 (2).
Source: South Dakota Legislature (sdlegislature.gov)URL: https://sdlegislature.gov/Statutes/47-26-23Fetched: 10/20/2026

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