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Code · South Dakota · Title 44 · Chapter 44-10

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

58 words·~1 min read·/sd/title-44/chapter-44-10/44-10-11

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Where a debtor has obtained credit or an extension of time by a fraudulent representation of the value of the property pledged by or for him, the creditor may demand a further pledge to correspond with the value represented; and in default thereof may foreclose the pledge and recover his debt immediately though it be not actually due.
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