§ 56-2-1 Suretyship defined
§ 56-2-2 Apparent principal may show that he is a surety
§ 56-2-3 Joint control of deposits of assets–Agreement between insured and surety–Withdrawal procedure
§ 56-2-4 Rights of a surety same as guarantor
§ 56-2-5 Performance of obligation when due by principal–Compelling by surety
§ 56-2-6 Neglect of creditor to proceed against principal at request of surety–Suretyexonerated to the extent which he is prejudiced
§ 56-2-7 Property of principal first resorted to
§ 56-2-8 Surety exonerated in like manner with guarantor
§ 56-2-9 Surety exonerated by performance or offer of performance
§ 56-2-10 Surety exonerated to extent prejudiced by act of creditor
§ 56-2-11 Surety exonerated to extent prejudiced by omission of creditor
§ 56-2-12 Liability of surety limited by express terms of contract–Penalty for breach
§ 56-2-13 Suretyship relation not changed by creditor’s judgment against surety
§ 56-2-14 Satisfaction of principal obligation by surety–Reimbursement, exception as to otherpersons
§ 56-2-17 Surety subrogated to rights of creditor

Terms Used In South Dakota Codified Laws > Title 56 > Chapter 2 - Suretyship

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Contract: A legal written agreement that becomes binding when signed.
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
  • Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
  • written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2