49-34-10. Foreclosure of security--Succession to rights and powers.
In case of a judicial sale by virtue of any trust deed or mortgage authorized by §49-34-9, any person or any other corporation organized under the provisions of chapter 49-33 may become the purchaser thereat, and the person or corporation acquiring title under such sale, his or its associates, successors or assigns shall thereafter have, exercise, and enjoy all the rights, powers, franchises, and advantages, which were possessed by such corporation making the same or contracting the debt, as fully and absolutely as such corporation, its officers, or agents might have done had such sale not taken place.
Source: SDC 1939, §52.1516; SL 1947, ch 237.