[Acceptance of collateral security waives lien.]

No person shall be entitled to a lien under this article who has taken collateral security for the payment of the sum due him. History: Laws 1851-1852, p. 243; C.L. 1865, ch. 77(2d), § 5; C.L. 1884, § 1538; C.L. 1897, § 2235; Code 1915, § 3335; Laws 1917, ch. 65, § 1 (3341); 1923, ch. 24, § 1 (3341); C.S. 1929, § 82-409; 1941 Comp., § 63-309; 1953 Comp., § 61-3-9.