Section 54-9-9 - Effect of omitting to record--Assignment of real property.
54-9-9. Effect of omitting to record--Assignment of real property. An assignment for the benefit of creditors is void against creditors of the assignor, and against purchasers and encumbrancers in good faith and for value, if the assignment is not recorded and the inventory filed within twenty days after the date of the assignment. Where it embraces real property it is subject to the provisions of law on recording transfers, as well as those of this chapter.
Source: CivC 1877, §§ 2038, 2039; CL 1887, §§ 4671, 4672; RCivC 1903, §§ 2383, 2384; RC 1919, §§ 2056, 2057; SDC 1939 & Supp 1960, § 37.5107.