Limitation of Actions

CHAPTER 67.

(H. B. 58.)

RELATING TO CONTRACTS FOR SALE OF REAL PROPERTY AND THEIR CANCELLATION.

AN ACT Entitled, An Act Limiting the Time Within Which Actions May Be Commenced upon Contracts and Bonds for the Purchase and Sale of Real Estate and Providing for the Cancellation and Discharge of Such Contracts and Bonds, and Declaring an Emergency.

Be It Enacted by the Legislature of the State of South Dakota:

Section 1. An action upon a contract or bond for the purchase and sale of real property, or for the recovery of the consideration payable thereunder, must be commenced within fifteen years after the cause of action shall have accrued, or within fifteen years after the last payment thereunder shall have become due and payable, and if not so commenced, such action shall be forever barred, and such contract or bond shall become null and void. Provided, that if the purchaser shall have been placed in possession of the property described in such contract or bond following the execution and delivery thereof, such action may be commenced at any time within fifteen years after the said purchaser has surrendered such possession.

Section 2. Any person having an interest in, or lien or incumbrance upon the property described in such instrument may apply to the Circuit Court of the county in which such contract or bond is filed or recorded for an order cancelling such contract or bond for deed. When such application is filed, the court shall fix a time and place for hearing thereon and notice of such hearing shall be given by serving a copy of such notice, containing the title of the proceeding, the names of the parties to the instrument affected, the date of such instrument, the book and page where same is recorded, the description of the premises therein, the time and place of hearing upon such application and a general statement of the relief sought to be obtained, personally upon the grantee or grantees in such instrument, or their successors in interest appearing of record, if any of such persons reside within the county where such instrument is recorded at least thirty days prior to the day set for such hearing, and if such persons to be served with notice do not reside within such county, said notice shall be served by publishing the same in a legal newspaper published in the county where such contract or bond is recorded for a period of three weeks, once in each week, next preceding the date of hearing; provided, that if no legal newspaper is published in such county, such notice shall be given by posting notices of such hearing in three public places within such county for the same period, one of which notices shall be posted upon the front door of the court house or building in which said court was last held in such county. On proof to the satisfaction of the court that actions on such contract and bond for deed are barred by the provisions of the act and that such instrument is null and void, and that notice of such hearing has been given as herein provided, the court shall make an order to that effect and shall in such or

der discharge of record and cancel such contract or bond for deed. The Register of Deeds in whose office such contract or bond for deed shall have been filed or recorded shall record a certified copy of such order and such record shall have the same force and effect as the record of a written cancellation of the contract or bond for deed, signed by the vendor and the purchaser or their assigns duly executed, acknowledged and recorded, and any and all right, title, interest or estate in, or lien or incumbrance upon such premises, and any cause of action upon such contract for deed, bond for deed, or other instruments affected by this Act, shall thereupon be forever barred and foreclosed.

Section 3. Provided, that as to such contracts for deed, bonds for deed, or other instruments falling under the provisions of this Act, of record when this law takes effect, the time within which an action may be commenced upon the same shall be as follows: If such contract or bond has been recorded for a period of ten years and not more than twenty years, within two years after this Act takes effect, and if such contract or bond has been of record twenty years or more, within six months after this Act takes effect.

Section 4. Whereas, this Act is necessary for the immediate support of the State Government and its existing institutions, an emergency is hereby declared to exist, and this Act shall be in full force from and after its passage and approval.

Approved June 30, 1920.

Moratorium

CHAPTER 68.

(H. B. 6.)

AMENDING THE MORATORIUM LAW.

AN ACT Entitled, An Act to Amend Section 5 of Chapter 55 of the Laws of the Special Session of 1918, as Amended by Section 4 of Chapter 262 of the Laws of 1919, Relating to Moratorium and Other Relief for Those Engaged in War Relief, and Providing for Exemption from Taxation, Penalties and Interest of Persons Engaged in the Military, Naval or Marine Service of the United States, and Declaring an Emergency.

Be It Enacted by the Legislature of the State of South Dakota:

Section 1. That Section 5 of Chapter 55 of the Laws of the Special Session of 1918, as amended by Section 4 of Chapter 262, Laws of 1919, be and the same is hereby amended to read as follows:

Section 4. That Section 5 of Chapter 55, Laws of the Special Sessign of 1918 be and the same is hereby amended to read as follows:

Section 5. Any and all taxes, penalty and interest upon property to the amount of five thousand ($5,000.00) dollars assessed valuation of any person who served in the military, naval or marine forces of the United States in the World War against the German Empire and its Allies, (Which taxes, penalty or interest were or shall be levied or accrued during any year for any part of which such person was in the service, or which became or shall become due during any such year) shall be paid in the following manner:

The County Auditor shall, under the supervision of the Board of County Commissioners, issue warrants to the County Treasurer against the County General Fund for the amount of such taxes, which warrants shall be paid as other county warrants are paid and the amount of the tax thus collected shall be distributed to the several funds to which it properly belongs; at the same time the County Auditor shall charge to the State the amount of its share of the tax thus paid, and the county shall be entitled to credit upon the books of the State Auditor for the State's share of the tax so remitted.

It shall be the duty of the County Auditor to ascertain what persons, if any, are entitled to the benefit of this section.

If any person shall at any time have paid taxes which would have been payable by the county under the provisions of this Section as now amended, had the same been in effect, such taxes and the interest and penalty thereon paid by such person shall be refunded upon proper application made in the form and manner prescribed by Section 6814 of the Revised Code of 1919, to the Board of County Commissioners, and filed with the County Auditor, and such application shall describe the property for which such exemption or refund is or has been claimed with the location thereof, which property may be selected by the applicant and be in more than one county, in which event each county shall pay or refund upon the property so selected within such county. Whenever any such application for refund is granted by the Board of County Commissioners, the County Auditor shall issue and deliver to the applicant a warrant on the County Treasurer against the County General Fund for the amount of such refund, and the County Treasurer shall pay and refund the same; and the county shall be entitled to credit for any State tax so refunded in its account with the State.

Section 2. Whereas, this Act is necessary for the support of the State Government and its existing institutions, an emergency is hereby declared to exist and this Act shall be in full force and effect from and after its passage and approval.

Approved June 30, 1920.

Mortgages

CHAPTER 69.

(S. B. 8.)

CURING DEFECTIVE ASSIGNMENTS AND DISCHARGES.

AN ACT Entitled, An Act to Cure Defects or Omissions in the Records of Instruments Affecting the Title to Real Property, and Declaring an Emergency.

Be It Enacted by the Legislature of the State of South Dakota:

Section 1. The record of any assignment or discharge of mortgage affecting real property, which was otherwise entitled to be recorded, and which, previous to the time of the passage and approval of this Act, was copied into the proper book of records kept in the office of any Register of Deeds, and which has been properly indexed against the real property

affected by such assignment or discharge, shall be deemed to impart notice of such instrument and its contents to subsequent purchasers and incumbrancers, notwithstanding that the description of the real property affected by such assignment or discharge shall have been omitted from such assignment or discharge; but nothing herein shall be deemed to affect the rights of purchasers or incumbrancers prior to the taking effect of this Act. Such instruments, the records of the same, or certified copies thereof, may be read in evidence with the same effect as though the property affected by such assignment or discharge of mortgage had been duly described therein.

Section 2. All Acts and parts of Acts in conflict with this Act are hereby repealed.

Section 3. Whereas, this Act is necessary for the immediate support of the State Government and its existing public institutions, an emergency is hereby declared to exist and this Act shall be in force and effect from and after its passage and approval. Approved June 30, 1920.

Municipal Corporations

CHAPTER 70.

(S. B. 40.)

RELATING TO MUNICIPAL BONDS.

AN ACT Entitled, An Act to Amend Section 6416 of the Revised Code of the State of South Dakota for the Year 1919, Relating to Bonds of Municipal Corporations, and Declaring an Emergency.

Be It Enacted by the Legislature of the State of South Dakota:

Section 1. That Section 6416 of the Revised Code of the State of South Dakota for the year 1919 be amended to read as follows:

Section 6416. Form of a Bond.] All bonds authorized by the third preceding Section shall run not more than twenty years from their issuance and shall bear interest at a rate not to exceed 6 per cent per annum, except that in cities of the third class and in towns, bonds may be issued bearing interest at a rate not to exceed 7 per cent per annum. Such interest shall be payable annually or semi-annually as the governing body may provide and principal and interest shall be payable at such place as may be fixed by the governing body.

Section 2. Whereas, there is now no adequate law covering this subject and this Act is necessary for the immediate protection of the public peace, health and safety, an emergency is hereby declared to exist and this Act shall take effect immediately upon its passage and approval. Approved June 30, 1920.

CHAPTER 71.

(S. B. 42.)

RELATING TO REFUNDING BONDS.

AN ACT Entitled, An Act to Amend Section 6420 of the Revised Code of South Dakota for the Year 1919, Relating to Refunding Bonds of Municipal Corporations.

Be It Enacted by the Legislature of the State of South Dakota:

Section 1. That Section 6420 of the Revised Code of South Dakota for the year 1919, be amended to read as follows: Section 6420. Form-Denomination-Interest.] Each bond so issued shall recite upon its face the purpose for which it is issued. Such bonds shall be in denominations of not less than $100 nor more than $1,000, shall be numbered consecutively, shall bear date and shall show the date when payable and may be made payable in not less than five years nor more than twenty years from their date, shall be made payable to the purchaser or bearer and may be made payable anywhere in the United States; shall bear interest at a rate not exceeding 6% per annum payable annually or semi-annually as may be agreed upon and shall have interest coupons attached and a copy of this Article shall be printed or engraved on the back of each bond.

Approved June 30, 1920.

CHAPTER 72.
(S. B. 5.)

RELATING TO QUALIFICATION OF MUNICIPAL OFFICERS.

AN ACT Entitled, An Act to Amend Section 6272 of Part 8, Chapter 5, Article 1, of the South Dakota Revised Political Code of the Year 1919, Relating to the Qualification of Officers.

Be It Enacted by the Legislature of the State of South Dakota:

Section 1. That Section 6272 of Part 8, Chapter 5, Article 1 of the South Dakota Revised Political Code of the year 1919 be and the same is hereby amended to read as follows:

Section 6272. Qualification of Officers.] In municipal corporations of the first and second class, city justices of the peace and all appointive officers before entering upon the discharge of their duties shall take and subscribe an oath or affirmative of office, in the form required by the constitution, and furnished an undertaking to be approved by the governing body of the municipality in such sum as such body shall prescribe, conditioned for the faithful discharge of the duties of their offices and to account, pay over and deliver all money or property coming into their hands by virtue of their office according to law; provided that the amount of the treasurer's undertaking shall in no case be less than onehalf of the amount of the estimated taxes and special assessments for the current year, and in case bonds are sold he shall execute an additional undertaking in the amount thereof; in municipal corporations of the