40-33-15. Action by secretary of agriculture and natural resources on wholesale dealer's bond--Proceeds deposited with secretary--Allowance of claims--Employment of counsel.
In all cases where the liability of the dealer at wholesale exceeds the amount of his bond, or where the amount of the claims does not exceed the amount of the bond, and the claimants so request in writing, the secretary of agriculture and natural resources shall commence an action for the recovery of the amount claimed, and the surety or bondsman upon the bond shall be liable to the extent of the amount recovered, not exceeding the amount of the bond, and when recovered such amount shall be deposited with the secretary, who shall, in the same action, subject to the approval of the court, pass upon and allow or disallow all claims which may be presented to him for payment or apportioned thereunder, and to effect the purposes herein may employ counsel, the expense thereof to be paid out of the amount recovered on the bond.
Source: SL 1955, ch 5, §5; SDC Supp 1960, §4.2405; SL 2021, ch 1 (Ex. Ord. 21-3), § 14, eff. Apr. 19, 2021.