Title 43 — PROPERTY

If a thing deposited is owned jointly or in common by persons who cannot agree upon the manner of its delivery, the depository may deliver to each his proper share thereof, if it can be done without injury to the thing. Source: CivC 1877, § 1044; CL 1887, § 3668; RCivC 1903, § 13…

The duties of a gratuitous depository cease: (1) Upon his restoring the thing deposited to its owner; or (2) Upon his giving reasonable notice to the owner to remove it, and the owner failing to do so within a reasonable time. But an involuntary depository under subdivision 43-39…

In the absence of a different agreement or usage, a depository for hire is entitled to one week's hire for the sustenance and shelter of living animals during any fraction of a week, and to half a month's hire for the storage of any property during any fraction of a half month. S…

A depositor must indemnify the depository: (1) For all damage caused to him by the defects or vices of the thing deposited; and (2) For all expenses necessarily incurred by him about the thing, other than such as are involved in the nature of the undertaking. Source: CivC 1877, §…

In the absence of an agreement as to the length of time during which a deposit is to continue, it may be terminated by the depositor at any time, and by the depository upon reasonable notice. Source: CivC 1877, § 1060; CL 1887, § 3684; RCivC 1903, § 1379; RC 1919, § 996; SDC 1939…

Notwithstanding an agreement respecting the length of time during which a deposit is to continue, it may be terminated by the depositor on paying all that would become due to the depository in case of the deposit so continuing. Source: CivC 1877, § 1061; CL 1887, § 3685; RCivC 19…

An involuntary deposit is made: (1) By the accidental leaving or placing of personal property in the possession of any person, without negligence on the part of its owner; or (2) In cases of fire, shipwreck, inundation, insurrection, riot, or like extraordinary emergencies, by th…

A deposit for keeping is one in which the depository is bound to return the identical thing deposited. Source: CivC 1877, § 1037; CL 1887, § 3661; RCivC 1903, § 1356; RC 1919, § 973; SDC 1939, § 60.0101 (3).

A deposit for exchange is one in which the depository is only bound to return a thing corresponding in kind to that which is deposited. Source: CivC 1877, § 1038; CL 1887, § 3662; RCivC 1903, § 1357; RC 1919, § 974; SDC 1939, § 60.0101 (4).

Gratuitous deposit is a deposit for which the depository receives no consideration beyond the mere possession of the thing deposited; an involuntary deposit is gratuitous, the depository being entitled to no reward. Source: CivC 1877, §§ 1053, 1054; CL 1887, §§ 3677, 3678; RCivC …

A deposit not gratuitous is called storage. The depository in such case is called a depository for hire. Source: CivC 1877, § 1057; CL 1887, § 3681; RCivC 1903, § 1376; RC 1919, § 993; SDC 1939, § 60.0101 (6).

Rights and duties of the depositor and depository are set forth in §§ 43-39-9 to 43-39-29 , inclusive. Source: SDC 1939, § 60.0102.

A deposit for exchange transfers to the depository the title to the thing deposited, and creates between him and the depositor the relation of debtor and creditor merely. Source: CivC 1877, § 1073; CL 1887, § 3697; RCivC 1903, § 1393; RC 1919, § 1016; SDC 1939, § 60.0102 (21).

No innkeeper or hotel keeper, whether individual, partnership, or corporation, who constantly has in the inn or hotel a metal safe or suitable vault in good order and who keeps on the doors of the sleeping rooms used by guests suitable locks or bolts, and on the transoms and wind…

Any such innkeeper or hotel keeper may by special arrangement with a guest receive for deposit in such safe or vault any property upon such terms as they may agree to in writing, but every innkeeper or hotel keeper shall be liable for any loss of the above enumerated articles of …

It shall be the duty of every guest and of everyone intending to be a guest of any hotel in this state, upon delivering to the proprietor of such hotel, or to his servants, any baggage or other articles of property of such guest for safekeeping, elsewhere than to the room assigne…

No hotel proprietor shall be liable for the loss of or injury to such baggage or other articles of property of his guest, unless the same shall have been actually delivered by such guest to such hotel proprietor or to his servants for safekeeping, or unless such loss or injury sh…

The liability of the keeper of any inn or hotel, whether individual, partnership, limited liability company, or corporation, for loss of or injury to personal property placed by any guest under the keeper's care, other than that described in §§ 43-40-1 to 43-40-4 , inclusive, is …

Whenever any person shall suffer his baggage or property to remain in any inn or hotel, after leaving the same as a guest, and after the relation of innkeeper and guest between such guest and the proprietor of such inn or hotel has ceased, or shall forward the same to such inn or…

In addition, before service by publication under this section can be made, the administrator or the administrator's attorney shall file an affidavit or a declaration stating all of the following facts that apply: (i) The residences of all named defendants sought to be served, if …

One who finds a thing lost is not bound to take charge of it; but if he does so, he is thenceforward a depository for the owner, with the rights and obligations of a depository for hire. Source: CivC 1877, § 1064; CL 1887, § 3688; RCivC 1903, § 1384; RC 1919, § 1007; SDC 1939, § …

The provisions of this chapter have no application to things which have been intentionally abandoned by their owners. Source: CivC 1877, § 1072; CL 1887, § 3696; RCivC 1903, § 1392; RC 1919, § 1015; SDC 1939, § 60.0209.

If any abandoned, lost, or confiscated bicycle is under the control or care of or has been placed in storage by any local government agency or law enforcement agency and if more than ninety days have passed since the bicycle first came in the possession of the local government ag…

Whenever any person finds any lost personal property, other than a domestic animal, under circumstances which give him knowledge or means of inquiry as to the true owner, he shall forthwith make all reasonable efforts to ascertain and notify such owner; and when such efforts do n…

If the finder of a thing knows or suspects who is the owner, he must, with reasonable diligence, give such owner notice of the finding; and if such finder fails to do so he is liable in damages to the owner, and has no claim to any reward offered by such owner for the recovery of…

The finder of a thing may exonerate himself from liability at any time by placing it in storage with any responsible person of good character, at a reasonable expense. Source: CivC 1877, § 1068; CL 1887, § 3692; RCivC 1903, § 1388; RC 1919, § 1011; SDC 1939, § 60.0205.

The finder of a thing may, in good faith, before giving it up, require reasonable proof of ownership from any person claiming it. Source: CivC 1877, § 1066; CL 1887, § 3690; RCivC 1903, § 1386; RC 1919, § 1009; SDC 1939, § 60.0203.

The finder of a thing is entitled to compensation for all expenses necessarily incurred by him in its preservation, and for any other service necessarily performed by him about it, and to a reasonable reward for keeping it. Source: CivC 1877, § 1067; CL 1887, § 3691; RCivC 1903, …

The owner of a thing found may exonerate himself from the claims of the finder by surrendering it to him in satisfaction thereof. Source: CivC 1877, § 1071; CL 1887, § 3695; RCivC 1903, § 1391; RC 1919, § 1014; SDC 1939, § 60.0208.

The finder of a thing may sell it if it is a thing which is commonly the subject of sale, when the owner cannot with reasonable diligence be found; or being found, refuses upon demand to pay the lawful charges of the finder, in the following cases: (1) When the thing is in danger…

A sale under the provisions of § 43-41-8 must be made in the same manner as the sale of a thing pledged. Source: CivC 1877, § 1070; CL 1887, § 3694; RCivC 1903, § 1390; RC 1919, § 1013; SDC 1939, § 60.0207.

Terms in this chapter mean: (1) "Administrator," the state treasurer; (2) "Apparent owner," the person whose name appears on the records of the holder as the person entitled to property held, issued, or owing by the holder; (3) "Attorney general," the chief legal officer of this …

(a) Except as provided in subsections (b) and (e), stock or other intangible ownership interest in a business association, the existence of which is evidenced by records available to the association, is presumed abandoned and, with respect to the interest, the association is the …

Intangible property distributable in the course of a dissolution of a business association which remains unclaimed by the owner for more than one year after the date specified for final distribution is presumed abandoned. Source: SL 1992, ch 312 , § 11. 43-41B-12. Repealed by SL …

43-41B-14 Property held by courts and public agencies. 43-41B-15 Gift certificates and credit memos. 43-41B-16 Wages. 43-41B-17 Contents of safe deposit box or other safekeeping repository--U.S. savings bonds. 43-41B-18 Report of abandoned property--Promulgation of rules. 43-41B-…

(a) Intangible property and any income or increment derived therefrom held by fiduciaries and agents for the benefit of another person is presumed abandoned unless the owner, within three years after it has become payable or distributable, has increased or decreased the principal…

Intangible property held for the owner by a court, federal, state, or other government, governmental subdivision or agency or entity, public corporation, public authority, or public officer of this state which remains unclaimed by the owner for more than one year after becoming p…

(a) A gift certificate or a credit memo issued in the ordinary course of an issuer's business which remains unclaimed by the owner for more than three years after becoming payable or distributable is presumed abandoned. (b) In the case of a gift certificate, the amount presumed a…

Unpaid wages, including wages represented by unpresented payroll checks, owing in the ordinary course of the holder's business which remains unclaimed by the owner for more than one year after becoming payable are presumed abandoned. Source: SL 1992, ch 312 , § 15.

savings bonds. Any tangible and intangible property held in a safe deposit box or any other safekeeping repository or agency or collateral deposit box in this state in the ordinary course of the holder's business and proceeds resulting from the sale of the property permitted by o…

A person holding property, tangible or intangible, which is presumed abandoned and subject to custody as unclaimed property under this chapter, shall report to the administrator concerning the property as provided in this section. The expiration of any period of time specified by…

(a) The administrator shall cause a notice to be published at least once in a newspaper of general circulation in the county of this state in which is located the last known address of any person to be named in the notice. If no address is listed or the address is outside this st…

(a) Except as otherwise provided by this chapter, all intangible property, including any income or increment derived therefrom, less any lawful charges, that is held, issued, or owing in the ordinary course of a holder's business and has remained unclaimed by the owner for more t…

(a) Except as otherwise provided in subsections (b) and (c) of this section, a person who is required to file a report under this chapter shall, at the same time as the final date for filing the report as required, pay or deliver to the administrator all abandoned property requir…

(a) Upon the payment or delivery of property to the administrator, the state assumes custody and responsibility for the safekeeping of the property. A person who pays or delivers property to the administrator in good faith is relieved of all liability to the extent of the value o…

Whenever property other than money is paid or delivered to the administrator under this chapter, the owner is entitled to receive from the administrator any dividends, interest, or other increments realized or accruing on the property at or before liquidation or conversion thereo…

(a) No earlier than three years after the receipt of abandoned property, the administrator shall sell the property to the highest bidder at a public sale or by means of an internet auction, depending on which method of sale the administrator determines affords the most favorable …

All securities, stocks, bonds, or other intangible ownership interests in business associations held by the Unclaimed Property Division with any value shall be sold after March 10, 2017. Source: SL 2017, ch 190 , § 3, eff. Mar. 10, 2017.

Except as otherwise provided by this section, the administrator shall promptly deposit in the general fund all moneys received under this chapter, including the proceeds from the sale of abandoned property under § 43-41B-23 , not to exceed the general fund contribution limit, as …

Money in the unclaimed property operating fund for the payment of claims and costs incurred in examining records of holders of property and in collecting the property from those holders is continuously appropriated. Expenditures for claims and costs incurred in examining records …