44-3-2. Marshaling securities among lien holders--Several things within the same class and subject to same number of liens--Property to which resort may be had.
67 words·~1 min read·
/sd/title-44/chapter-44-3/44-3-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
When several things are within one of the classes described by § 44-3-1 and subject to the same number of liens, resort must be had:
(1)To the things which had not been transferred since the prior lien was created;
(2)To the things which have been so transferred without a valuable consideration; and
(3)To the things which have been so transferred for a valuable consideration.