Section 54-9-11 - Bond of assignee--Amount--Approval of sureties by circuit court--Terms and conditions

54-9-11. Bond of assignee--Amount--Approval of sureties by circuit court--Terms and conditions.Within thirty days after the date of an assignment for the benefit of creditors, the assignee must enter into a bond to this state, in double the amount of the value of the property assigned, with sufficient sureties, to be approved by the judge of the circuit court for the county in which the original inventory is filed, and conditioned for the faithful discharge of the trust, and due accounting for all moneys received by the assignee, which bond must be filed in the same office with the original inventory. Source: CivC 1877, §2040; CL 1887, §4673; RCivC 1903, §2385; RC 1919, §2058; SDC 1939 & Supp 1960, §37.5108.