71-1-316. Disposition of proceeds of sale. The trustee shall apply the proceeds of the trustee's sale as follows:
     (1) to the costs and expenses of exercising the power of sale and of the sale, including reasonable trustee's fees and attorney's fees;
     (2) to the obligation secured by the trust indenture;
     (3) the surplus, if any, to the person or persons legally entitled thereto, or the trustee, in his discretion, may deposit such surplus with the clerk and recorder of the county in which the sale took place. Upon depositing such surplus, the trustee shall be discharged from all further responsibility therefor and the clerk and recorder shall deposit the same with the county treasurer subject to the order of the district court of such county.

     History: En. Sec. 13, Ch. 177, L. 1963; R.C.M. 1947, 52-413.