10-21-5. Preferred claim in receivership, bankruptcy, assignment for benefit of creditors, and trust administration.
If a receiver is appointed, or an assignment for benefit of creditors made, or bankruptcy proceedings instituted, or administration of trusts or estates or similar court administration invoked, of, for, or on behalf of any person in any court in this state, the property taxes of the person is the first and preferred claim and charge and paid as part of the expense of administration out of the first funds or property accruing. This claim and charge is subject to the actual court costs and fees allowed by the court necessary for conducting the administration and any absolute exemptions and family allowance provided by law.
Source: SDC 1939, §57.1028; SL 2018, ch 63, §5.