North Dakota § 35-01-15 - Order of resort for payment - Marshalling securities
Full text of North Dakota North Dakota Century Code § 35-01-15 — Order of resort for payment - Marshalling securities, with citation guidance and answers to common questions.
§ 35-01-15. Order of resort for payment - Marshalling securities
When a person has a lien upon several things and other persons have subordinate liens upon or interests in some but not all of the same things, the person having the prior lien, if that person can do so without the risk of loss to that person or of injustice to other persons, on the demand of any party interested, must resort to the property in the following order: 1. To the things upon which that person has an exclusive lien. 2. To the things which are subject to the fewest subordinate liens. 3. In like manner inversely to the number of subordinate liens upon the same thing. 4. When several things are within one of the foregoing classes, and subject to the same number of liens, resort must be had: a. To things which have not been transferred since the prior lien was created; b. To the things which have been so transferred without a valuable consideration; and c. To the things which have been so transferred for a valuable consideration in the inverse order of the transfers.
Source: official North Dakota text · Last verified 2026-08-27
Frequently Asked Questions About North Dakota § 35-01-15
What does North Dakota Century Code § 35-01-15 cover?
Section 35-01-15 ("Order of resort for payment - Marshalling securities") is part of the North Dakota Century Code, the codified statutory law of North Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Dakota § 35-01-15?
A common citation format is "North Dakota Century Code § 35-01-15" (North Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Dakota official source linked on this page or consult a licensed North Dakota attorney.
How does North Dakota § 35-01-15 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Dakota.