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

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  2. South Dakota Codified Laws
  3. Liens
  4. Pledges Of Personal Property
  5. Lien of pledge dependent on possession--Delivery essential to valid pledge.

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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.


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