A pledgor and pledgee may agree upon a third person with whom to deposit the property pledged who, if he accepts, becomes a pledge holder. He must enforce all of the rights of the pledgee unless authorized by him to waive them.
S.D. Codified Laws § 44-10-6
Pledge holder--Selection--Duties
Source: CivC 1877, §§ 1764, 1767; CL 1887, §§ 4399, 4402; RCivC 1903, §§ 2111, 2114; RC 1919, §§ 1612, 1615; SDC 1939, § 39.0507.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.