Section 44-9A-2 – Joint check and separate agreement of waiver required.
44-9A-2. Joint check and separate agreement of waiver required. Any lien to which a person or corporation furnishing materials, supplies, equipment, and services to a contractor or subcontractor would otherwise be entitled under Title 5 or Title 44 of the South Dakota Codified Laws or by virtue of the common law of this state may […]
Section 44-9A-3 – Provisions to be entered on reverse of joint check for waiver.
44-9A-3. Provisions to be entered on reverse of joint check for waiver. A joint check as used for the purposes provided in this chapter must have a provision on the reverse side thereof making reference to a separate written agreement of waiver between the maker and the person or corporation furnishing materials, supplies, equipment, or […]
Section 44-9A-4 – Endorsement of joint check and execution of agreement as express waiver.
44-9A-4. Endorsement of joint check and execution of agreement as express waiver. The endorsement of a joint check as provided herein and the execution of a separate written agreement of waiver by a person or corporation furnishing materials, supplies, equipment, and services to an owner, contractor, or a subcontractor shall constitute an express waiver of […]
Section 44-9A-5 – Release of joint check proceeds at peril of supplier.
44-9A-5. Release of joint check proceeds at peril of supplier. It shall be of no consequence under this chapter if the payment or any part thereof in such joint check is released to the contractor or subcontractor by another payee. Release of such funds is at the peril of the person or corporation furnishing materials, […]
Section 44-10-1 – Pledge defined.
44-10-1. Pledge defined. Pledge is a deposit of personal property or a contract transferring possession of such as security for an obligation. Source: CivC 1877, §§1757, 1758; CL 1887, §§4392, 4393; RCivC 1903, §§2104, 2105; RC 1919, §§1605, 1606; SDC 1939, §39.0501.
Section 44-10-2 – Lien of pledge dependent on possession–Delivery essential to valid pledge.
44-10-2. Lien of pledge dependent on possession–Delivery essential to valid pledge. The lien of a pledge is dependent on possession, and no pledge is valid until the property pledged is delivered to the pledgee or to a pledge holder. Source: CivC 1877, §1759; CL 1887, §4394; RCivC 1903, §2106; RC 1919, §1607; SDC 1939, §39.0502.
Section 44-10-4 – Lienor may pledge property to the extent of his lien.
44-10-4. Lienor may pledge property to the extent of his lien. One who has a lien on property may pledge it to the extent of his lien. Source: CivC 1877, §1761; CL 1887, §4396; RCivC 1903, §2108; RC 1919, §1609; SDC 1939, §39.0504.
Section 44-10-5 – Pledge as security for obligation of another–Rights of pledgor, exception–Consideration for pledge received from debtor cannot be withdrawn without consent.
44-10-5. Pledge as security for obligation of another–Rights of pledgor, exception–Consideration for pledge received from debtor cannot be withdrawn without consent. Property may be pledged as security for the obligation of a person other than the owner and in so doing the owner has all the rights of a pledgor for himself except that he […]
Section 44-10-6 – Pledge holder–Selection–Duties.
44-10-6. Pledge holder–Selection–Duties. 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. Source: CivC 1877, §§1764, 1767; CL 1887, §§4399, 4402; RCivC […]
Section 44-9-35 – Foreclosure of liens involving public utility–Receivership created instead of directing sale of property.
44-9-35. Foreclosure of liens involving public utility–Receivership created instead of directing sale of property. In all cases of liens arising under the provisions of subdivision §44-9-1(2) a receivership may be created in the first instance instead of directing a sale of the property. Source: SL 1913, ch 263, §15; RC 1919, §1657; SDC 1939, §39.0717.