Section 44-5-3 - Sale or conversion of property subject to lien--Satisfaction of claim--Lien extinguished

44-5-3. Sale or conversion of property subject to lien--Satisfaction of claim--Lien extinguished.The sale of any property on which there is a lien toward satisfaction of the claim secured thereby, and in case of personal property, its wrongful conversion by the person holding the lien, extinguishes the lien thereon. Source: CivC 1877, §1718; CL 1887, §4342; RCivC 1903, §2038; RC 1919, §1543; SDC 1939, §39.0120.