Section 44-10-5 - Pledge as security for obligation of another--Rights of pledgor, exception--Considerationfor pledge received from debtor cannot be withdrawn without consent. - South Dakota Statutes

44-10-5. Pledge as security for obligation of another--Rights of pledgor, exception--Consideration for pledge received from debtor cannot be withdrawn without consent. Property may be pledged as security for the obligation of a person other than the owner and in so doing the owner has all the rights of a pledgor for himself except that he cannot withdraw the property otherwise than as a pledgor for himself might; and if he receives from the debtor a consideration for the pledge, he cannot withdraw it without his consent.

Source: CivC 1877, §§ 1763, 1765; CL 1887, §§ 4398, 4400; RCivC 1903, §§ 2110, 2112; RC 1919, §§ 1611, 1613; SDC 1939, § 39.0506.