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2016 South Dakota Codified Laws
Title 51A - BANKS AND BANKING
Chapter 01 - Definitions, General Provisions And Penalties
§ 51A-1-8 Liability of bank as insurer or as guarantor or endorser of security instrument prohibited.

SD Codified L § 51A-1-8 (2016) What's This?

51A-1-8. Liability of bank as insurer or as guarantor or endorser of security instrument prohibited. Except as expressly permitted in this title, a bank shall not assume liability as an insurer or as a guarantor or endorser of any security instrument or obligation in which or with respect to which it has no property interest.

Source: SL 1969, ch 11, § 1.6; SDCL, § 51-15-6.

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