Value of security, determination by compromise--Redemption of assets by liquidator

Under the circumstances described by § 54-10-7 , the court may order the value of the security determined by compromise, if the secured creditor and the liquidator agree upon a value. The liquidator may redeem such assets by payment of the agreed value, if authorized by the court. Source: SL 1941, ch 162 , § 6; SDC Supp 1960, § 37.26A06 (1).