Statutes > South Dakota Statutes > Title 56 - GUARANTY, SURETYSHIP AND INDEMNITY > Chapter 01 - Guaranty > Section 56-1-16 - Liability of guarantor--Time of accrual--Default of principal--Demand or noticeunnecessary.

Section 56-1-16 - Liability of guarantor--Time of accrual--Default of principal--Demand or noticeunnecessary.

56-1-16. Liability of guarantor--Time of accrual--Default of principal--Demand or notice unnecessary. A guarantor of payment or performance is liable to the guarantee immediately upon the default of the principal and without demand or notice.

Source: SDC 1939, § 26.0110.