Section 51A-1-8 - Liability of bank as insurer or as guarantor or endorser of security instrumentprohibited. - South Dakota Statutes

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.