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

44-10-7. Obligations of pledge holder--Exoneration from undertaking.

67 words·~1 min read·/sd/title-44/chapter-44-10/44-10-7

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

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.
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