South Dakota Statutes

§ 44-10-7 — Obligations of pledge holder--Exoneration from undertaking.

South Dakota·Title 44 LIENS·Ch. 44-10 PLEDGES OF PERSONAL PROPERTY

A pledge holder for reward cannot exonerate himself from his undertaking; and a gratuitous pledge holder can do so only by giving reasonable notice to the pledgor and pledgee to appoint a new pledge holder, and in case of their failure to agree, by depositing the property pledged with some impartial person who will then be entitled to a reasonable compensation for his care of the same.

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South Dakota § 44-10-7 (Obligations of pledge holder--Exoneration from undertaking.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

CivC 1877, § 1766; CL 1887, § 4401; RCivC 1903, § 2113; RC 1919, § 1614; SDC 1939, § 39.0508.

Nearby Sections

15

§ 44-1-1

§ 44-1-10

Lien limited to specified obligation.

§ 44-1-11

Lien holder not entitled to compensation from owner for expenses incurred respecting lien--Exception.

§ 44-1-12

Destruction, disposal, or removal of personal property subject to security interest as felony.

§ 44-1-13

Priority of lien securing future advances.

§ 44-1-2

Classification of liens--Definition of terms--General lien--Special lien.

§ 44-1-3

Application of general statutes to liens--Exception.

§ 44-1-4

Creation of lien--Contract--Operation of law.

§ 44-1-5

Security for performance of future obligations--Creation of lien.

§ 44-1-6

Agreement to create lien on future interest--Attachment of lien.

§ 44-1-7

Lien or contract of lien transfers no title to property.

§ 44-1-8

Forfeiture of property to satisfy obligation secured by lien or restraint of right of redemption void.

§ 44-1-9

Obligation to perform not implied from lien.

§ 44-10-1

Pledge defined.

§ 44-10-10

Pledgee's sale of securities--Evidences of debt--Exception.

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