South Dakota Codified Laws
Chapter 10 - Pledges Of Personal Property
Section 44-10-2 - Lien of pledge dependent on possession--Delivery essential to valid pledge.

44-10-2. Lien of pledge dependent on possession--Delivery essential to valid pledge.
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.

<< Previous
Next >>

Structure South Dakota Codified Laws

South Dakota Codified Laws

Title 44 - Liens

Chapter 10 - Pledges Of Personal Property

Section 44-10-1 - Pledge defined.

Section 44-10-2 - Lien of pledge dependent on possession--Delivery essential to valid pledge.

Section 44-10-4 - Lienor may pledge property to the extent of his lien.

Section 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for obligation of another--Rights of pledgor, exception--Consideration for pledge received from debtor cannot be withdrawn without consent.

Section 44-10-6 - Pledge holder--Selection--Duties.

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

Section 44-10-8 - Obligations of pledgee and pledge holder--Assumption of duties and liabilities of depository.

Section 44-10-9 - Increase of property pledged--Covered by pledge lien.

Section 44-10-10 - Pledgee's sale of securities--Evidences of debt--Exception.

Section 44-10-11 - Debtor's misrepresentation of value of pledge.