44-1-4. Creation of lien--Contract--Operation of law.

A lien is created:

(1)    By contract; or

(2)    By operation of law; but no lien arises by mere operation of law until the time at which the act to be secured thereby ought to be performed.

Source: CivC 1877, §§ 1702, 1703; CL 1887, §§ 4326, 4327; RCivC 1903, §§ 2022, 2023; RC 1919, §§ 1527, 1528; SDC 1939, § 39.0103.