21-48-3. Default required before foreclosure.To entitle any party to foreclose by advertisement, it shall be necessary that some default in a condition of such mortgage shall have accrued, by which the power to sell has become operative. Source: CCivP 1877, §598, subdiv 1; CL 1887, §5412, subdiv 1; RCCivP 1903, §637, subdiv 1; RC 1919, §2877 (1); SDC 1939 & Supp 1960, §37.3002 (1).
South Dakota Legal Code