GroundRules
SDCL § 51A-1-8: Liability of bank as insurer or as guarantor or endorser of security instrument prohibited.
Where this section sits in the code
- TITLE 51A. BANKS AND BANKING
- CHAPTER 51A-1. DEFINITIONS, GENERAL PROVISIONS AND PENALTIES
Except as expressly permitted in this title, a bank shall not assume liability as an insurer or as a guarantor or endorser of any security instrument or obligation in which or with respect to which it has no property interest.
Source: SL 1969, ch 11, § 1.6; SDCL, § 51-15-6.
Collected 2026-09-03T15:18:57Z. Source file · JSON