Section 11-11-86 - Acceleration of bonds or notes by trustee--Annulment of declaration.
11-11-86. Acceleration of bonds or notes by trustee--Annulment of declaration. A trustee appointed pursuant to § 11-11-83 may, and upon written request of the holders of twenty-five percent in principal amount of such bonds or notes then outstanding shall, in his or its own name, declare all such bonds or notes due and payable and if all defaults shall be made good then with the consent of the holders of twenty-five percent of the principal amount of such bonds or notes then outstanding, may annul such declaration and its consequences.
Source: SL 1973, ch 180, § 44 (6); SDCL Supp, § 28-19-77.