44-5-3. Sale or conversion of property subject to lien--Satisfaction of claim--Lien extinguished. The sale of any property on which there is a lien toward satisfaction of the claim secured thereby, and in case of personal property, its wrongful conversion by the person holding the lien, extinguishes the lien thereon.
Source: CivC 1877, § 1718; CL 1887, § 4342; RCivC 1903, § 2038; RC 1919, § 1543; SDC 1939, § 39.0120.
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