44-1-5. Security for performance of future obligations--Creation of lien.A lien may be created by contract, to take immediate effect, as security for performance of obligations not then in existence. Source: CivC 1877, §1705; CL 1887, §4329; RCivC 1903, §2025; RC 1919, §1530; SDC 1939, §39.0104.
South Dakota Legal Code