§38-1-3. Sales under trust deeds.
The trustee in any trust deed given as security shall,
whenever required by any creditor secured or any surety
indemnified by the deed, or the assignee or personal
representative of any such creditor or surety, after debt due to
such creditor or for which such surety may be liable shall have
become payable and default shall have been made in the payment
thereof, or any part thereof, by the grantor or other person
owing such debt, and if all other conditions precedent to sale by
the trustee, as expressed in the trust deed, shall have happened,
sell the property conveyed by the deed, or so much thereof as may
be necessary, at public auction, having first given notice of
such sale as prescribed in the following section.