Title 44 — LIENS
16 chapters · 214 sections in this title.
SDCL § 44-10-1 Pledge defined
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Pledge is a deposit of personal property or a contract transferring possession of such as security for an obligation. Source: CivC 1877, §§ 1757, 1758; CL 1887, §§ 4392, 4393; RCivC 1903, §§ 2104, 2105; RC 1919, §§ 1605, 1606; SDC 1939, § 39.0501.
SDCL § 44-10-10 Pledgee's sale of securities--Evidences of debt--Exception
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A pledgee cannot sell any evidences of debt pledged to him except the obligations of governments, states, or their subdivisions and public and private corporations; but he may collect the same when due. Source: CivC 1877, § 1777; CL 1887, § 4412; RCivC 1903, § 2124; RC 1919, § 16…
SDCL § 44-10-11 Debtor's misrepresentation of value of pledge
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Where a debtor has obtained credit or an extension of time by a fraudulent representation of the value of the property pledged by or for him, the creditor may demand a further pledge to correspond with the value represented; and in default thereof may foreclose the pledge and rec…
SDCL § 44-10-2 Lien of pledge dependent on possession--Delivery essential to valid pledge
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The lien of a pledge is dependent on possession, and no pledge is valid until the property pledged is delivered to the pledgee or to a pledge holder. Source: CivC 1877, § 1759; CL 1887, § 4394; RCivC 1903, § 2106; RC 1919, § 1607; SDC 1939, § 39.0502.
SDCL § 44-10-3 Real owner cannot defeat pledge of property transferred to apparent owner for the purpose of pledge
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One who has allowed another to assume the apparent ownership of property for the purpose of making any transfer of it cannot set up his own title to defeat a pledge of the property made by the other to a pledgee who received the property in good faith in the ordinary course of bu…
SDCL § 44-10-4 Lienor may pledge property to the extent of his lien
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One who has a lien on property may pledge it to the extent of his lien. Source: CivC 1877, § 1761; CL 1887, § 4396; RCivC 1903, § 2108; RC 1919, § 1609; SDC 1939, § 39.0504.
SDCL § 44-10-5 Pledge as security for obligation of another--Rights of pledgor, exception--Consideration for pledge received from debtor cannot be withdrawn without consent
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Property may be pledged as security for the obligation of a person other than the owner and in so doing the owner has all the rights of a pledgor for himself except that he cannot withdraw the property otherwise than as a pledgor for himself might; and if he receives from the deb…
SDCL § 44-10-6 Pledge holder--Selection--Duties
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A pledgor and pledgee may agree upon a third person with whom to deposit the property pledged who, if he accepts, becomes a pledge holder. He must enforce all of the rights of the pledgee unless authorized by him to waive them. Source: CivC 1877, §§ 1764, 1767; CL 1887, §§ 4399, …
SDCL § 44-10-7 Obligations of pledge holder--Exoneration from undertaking
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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…
SDCL § 44-10-8 Obligations of pledgee and pledge holder--Assumption of duties and liabilities of depository
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A pledgee or pledge holder for reward assumes the duties and liabilities of a depository for reward. A gratuitous pledge holder assumes the duties and liabilities of a gratuitous depository. Source: CivC 1877, §§ 1768, 1769; CL 1887, §§ 4403, 4404; RCivC 1903, §§ 2115, 2116; RC 1…
SDCL § 44-10-9 Increase of property pledged--Covered by pledge lien
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The increase of property pledged is pledged with the property. Source: CivC 1877, § 1760; CL 1887, § 4395; RCivC 1903, § 2107; RC 1919, § 1608; SDC 1939, § 39.0503.