<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 56-1-14 - Failure to take proceedings upon principal debt does not discharge guaranty of solvency. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2073093Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073093SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073093CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2073093Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2073093DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073093000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2073093SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2073093SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2073093Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=56-1-14"><span class="s2073093SENU">56-1-14</span></a><span xml:space="preserve" class="s2073093SENU">. </span><span class="s2073093CL">Failure to take proceedings upon principal debt does not discharge guaranty of solvency.</span></p><p dir="ltr" class="s2073093Normal-000000"><span xml:space="preserve" class="s2073093DefaultParagraphFont">A guaranty such as is mentioned in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=56-1-12"><span class="s2073093DefaultParagraphFont">56-1-12</span></a><span xml:space="preserve" class="s2073093DefaultParagraphFont"> is not discharged by any omission to take proceedings upon the principal debt or upon any collateral security for its payment, if no part of the debt could have been collected thereby.</span></p><p dir="ltr" class="s2073093Normal"><span xml:space="preserve" class="s2073093000001"> </span></p><p dir="ltr" class="s2073093Normal"><span class="s2073093SCL">Source:</span><span xml:space="preserve" class="s2073093SCL-000002"> SDC 1939, § 26.0108.</span></p></div></body></html>