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for obligation of another--Rights of pledgor, exception--Consideration for pledge received from debtor cannot be withdrawn without consent.
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 debtor a consideration for the pledge, he cannot withdraw it without his consent.
Source: CivC 1877, §§1763, 1765; CL 1887, §§4398, 4400; RCivC 1903, §§2110, 2112; RC 1919, §§1611, 1613; SDC 1939, §39.0506.
Structure South Dakota Codified Laws
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 44-10-6 - Pledge holder--Selection--Duties.
Section 44-10-7 - Obligations of pledge holder--Exoneration from undertaking.
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.