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.
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