44-10-11. Debtor's misrepresentation of value of pledge.Where a debtor has obtained credit or an extension of time by a fraudulent representation of the value of the property pledged by or for him, the creditor may demand a further pledge to correspond with the value represented; and in default thereof may foreclose the pledge and recover his debt immediately though it be not actually due. Source: CivC 1877, §1770; CL 1887, §4405; RCivC 1903, §2117; RC 1919, §1618; SDC 1939, §39.0510.
South Dakota Legal Code