Mere delay on the part of a creditor to proceed against the principal or to enforce any other remedy does not exonerate a guarantor.
S.D. Codified Laws § 56-1-26
Delay of creditors in enforcement of remedy--Guarantor not exonerated
Applied in 2 court decisions — leading case Norwest Bank South Dakota, N.A. v. Venners (1989)
Most recently applied in Lane v. Travelers Indemnity Co. (May 1997)
Source: SDC 1939, § 26.0120.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.