North Dakota Century Code

N.D. Cent. Code § 13-01-04 (2026)

Marshalling funds - Rights of creditors

✓ current as of May 2026

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When a creditor is entitled to resort to each of several funds for the satisfaction of the creditor's claim and another person has an interest in, or is entitled as a creditor to resort to, some but not all of them, the latter may require the former to seek satisfaction from those funds to which the latter has no such claim so far as it can be done without impairing the right of the former to complete satisfaction and without doing injustice to third persons. This section does not apply to execution sales of real estate mortgage foreclosures.

Notes of Decisions

Cited in 2 cases, 1984–1987 · leading case: In Re Hansen, 77 B.R. 722 (Bankr. D.N.D. 1987).

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In Re Hansen, 77 B.R. 722 (Bankr. D.N.D. 1987). · cites it 2× “State Bank argues that section 13-01-04 and section 35-01-05 of the North Dakota Century Code would require, under state law, that the Debtors’ assets be marshaled, and that under state law the Land Department would first be required to proceed against the mineral acres to…”

Armstrong v. First Nat'l Bank, Minot (In Re Clothes, Inc.), 40 B.R. 997 (D.N.D. 1984). · cites it 2× “Ill The trustee also claims that under doctrines of marshalling of assets the bank had an obligation to the unsecured creditors to go against the guarantors and leave the security assets for the general creditors.”

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