43-39-19. Notice to owner of thing wrongfully detained.A depository, who believes that a thing deposited with him is wrongfully detained from its true owner, may give him notice of the deposit; and if, within a reasonable time afterward he does not claim it, and sufficiently establish his right thereto, and indemnify the depository against the claim of the depositor, the depository is exonerated from liability to the person to whom he gave the notice, upon returning the thing to the depositor, or assuming in good faith a new obligation changing his position in respect to the thing, to his prejudice. Source: CivC 1877, §1043; CL 1887, §3667; RCivC 1903, §1362; RC 1919, §979; SDC 1939, §60.0102 (5).
South Dakota Legal Code