A guarantor of payment or performance is liable to the guarantee immediately upon the default of the principal and without demand or notice.
S.D. Codified Laws § 56-1-16
Liability of guarantor--Time of accrual--Default of principal--Demand or notice unnecessary
Applied in 1 court decision — leading case 529 F. Supp. 2d 1061 - American Prairie Construction Co. v. Tri-State Financial, LLC (2007)
Most recently applied in 529 F. Supp. 2d 1061 - American Prairie Construction Co. v. Tri-State Financial, LLC (December 2007)
Source: SDC 1939, § 26.0110.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.