44-3-2. Marshaling securities among lien holders--Several things within the same class and subject to same number of liens--Property to which resort may be had.
When several things are within one of the classes described by §44-3-1 and subject to the same number of liens, resort must be had:
(1)To the things which had not been transferred since the prior lien was created;
(2)To the things which have been so transferred without a valuable consideration; and
(3)To the things which have been so transferred for a valuable consideration.
Source: CivC 1877, §1713, subdiv 4; CL 1887, §4337, subdiv 4; RCivC 1903, §2033, subdiv 4; RC 1919, §1538 (4); SDC 1939, §39.0114 (4).