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§ 47-26-29 Appointment of liquidating receiver--Authority of receiver--Order appointing receiver.

SD Codified L § 47-26-29 (2019) (N/A)
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47-26-29. Appointment of liquidating receiver--Authority of receiver--Order appointing receiver. After a hearing had upon such notice as the court may direct to be given to all parties to proceedings to liquidate the assets and affairs of a corporation and to any other parties in interest designated by the court, the court may appoint a liquidating receiver or receivers with authority to collect the assets of the corporation. Such liquidating receiver or receivers shall have authority, subject to the order of the court, to sell, convey, and dispose of all or any part of the assets of the corporation wherever situated, either at public or private sale. The order appointing such liquidating receiver or receivers shall state their powers and duties. Such powers and duties may be increased or diminished at any time during the proceedings.

Source: SL 1965, ch 24, § 57.

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§ 47-26-30 Disposition of assets resulting from sale of corporate property--Manner of distribution--Disposition of remaining assets.