South Dakota § 10-21-5 - Preferred claim in receivership, bankruptcy, assignment for benefit of creditors, and trust administration.
Full text of South Dakota South Dakota Codified Laws § 10-21-5 — Preferred claim in receivership, bankruptcy, assignment for benefit of creditors, and trust administration., with citation guidance and answers to common questions.
§ 10-21-5. Preferred claim in receivership, bankruptcy, assignment for benefit of creditors, and trust administration.
If a receiver is appointed, or an assignment for benefit of creditors made, or bankruptcy proceedings instituted, or administration of trusts or estates or similar court administration invoked, of, for, or on behalf of any person in any court in this state, the property taxes of the person is the first and preferred claim and charge and paid as part of the expense of administration out of the first funds or property accruing. This claim and charge is subject to the actual court costs and fees allowed by the court necessary for conducting the administration and any absolute exemptions and family allowance provided by law.
Source: SDC 1939, § 57.1028; SL 2018, ch 63, § 5.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 10-21-5
What does South Dakota Codified Laws § 10-21-5 cover?
Section 10-21-5 ("Preferred claim in receivership, bankruptcy, assignment for benefit of creditors, and trust administration.") is part of the South Dakota Codified Laws, the codified statutory law of South 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 South Dakota § 10-21-5?
A common citation format is "South Dakota Codified Laws § 10-21-5" (South 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 South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 10-21-5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South 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 South Dakota.