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.
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