A depositor must indemnify the depository:

1. (1) For all damage caused to him by the defects or vices of the thing deposited; and
2. (2) For all expenses necessarily incurred by him about the thing, other than such as are involved in the nature of the undertaking.

Source: CivC 1877, § 1045; CL 1887, § 3669; RCivC 1903, § 1364; RC 1919, § 981; SDC 1939, § 60.0102 (7).