A guaranty such as is mentioned in § 56-1-12 is not discharged by any omission to take proceedings upon the principal debt or upon any collateral security for its payment, if no part of the debt could have been collected thereby.
S.D. Codified Laws § 56-1-14
Failure to take proceedings upon principal debt does not discharge guaranty of solvency
Source: SDC 1939, § 26.0108.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.