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.
S.D. Codified Laws § 51A-1-8
Liability of bank as insurer or as guarantor or endorser of security instrument prohibited
Source: SL 1969, ch 11, § 1.6; SDCL, § 51-15-6.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.