S.D. Codified Laws § 44-10-2

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

Source: CivC 1877, § 1759; CL 1887, § 4394; RCivC 1903, § 2106; RC 1919, § 1607; SDC 1939, § 39.0502.

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.

Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.