54-10-8. Value of security, determination by compromise--Redemption of assets by liquidator.

Under the circumstances described by § 54-10-7, the court may order the value of the security determined by compromise, if the secured creditor and the liquidator agree upon a value. The liquidator may redeem such assets by payment of the agreed value, if authorized by the court.

Source: SL 1941, ch 162, § 6; SDC Supp 1960, § 37.26A06 (1).