2014 South Dakota Codified Laws
Title 44 - LIENS
Chapter 10 - Pledges Of Personal Property
§ 44-10-7 Obligations of pledge holder--Exoneration from undertaking.
44-10-7. Obligations of pledge holder--Exoneration from undertaking. 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 with some impartial person who will then be entitled to a reasonable compensation for his care of the same.
Source: CivC 1877, § 1766; CL 1887, § 4401; RCivC 1903, § 2113; RC 1919, § 1614; SDC 1939, § 39.0508.
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