Section 46A-8-7 - Lien of association for unpaid assessments--Priority--Duration--Foreclosure and sale ofland.
46A-8-7. Lien of association for unpaid assessments--Priority--Duration--Foreclosure and sale of land. Such associations shall have the first and prior lien for all unpaid assessments on the lands of the shareholder against which such assessments are levied, and for all deferred payments on the water right appurtenant to such lands; such lien to be in all respects prior to any and all other liens created or attempted to be created by the owner and possessor of such lands; such lien to remain in full force and effect until the last deferred payment for the water right and any unpaid assessments levied by such association against such land are fully paid and satisfied, according to the terms of the contract under which such water right was acquired, the provisions of this chapter, and the bylaws of such association relating to assessments. Such lien shall be enforced by the association by the foreclosure and sale of such lands, or so much thereof as may be necessary, in the manner provided by law for the foreclosure of mortgages on real property.
Source: SDC 1939, § 61.0202; SDCL, § 46-11-7.