44-1-5. Security for performance of future obligations--Creation of lien. A lien may be created by contract, to take immediate effect, as security for performance of obligations not then in existence.
Source: CivC 1877, § 1705; CL 1887, § 4329; RCivC 1903, § 2025; RC 1919, § 1530; SDC 1939, § 39.0104.
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