Section 43-39-9 - Deposit for exchange--Transfer of title to deposit--Creation of debtor and creditor relationship

43-39-9. Deposit for exchange--Transfer of title to deposit--Creation of debtor and creditor relationship.A deposit for exchange transfers to the depository the title to the thing deposited, and creates between him and the depositor the relation of debtor and creditor merely. Source: CivC 1877, §1073; CL 1887, §3697; RCivC 1903, §1393; RC 1919, §1016; SDC 1939, §60.0102 (21).