Montana § 71-2-106 Obligations Of Pledge Holder

Montana Statutes

§ 71-2-106 — Obligations Of Pledge Holder

Montana § 71-2-106

Title 71MORTGAGES, PLEDGES, AND LIENS

Ch. 2PLEDGES

Part 1Pledges in General

This text of Montana § 71-2-106 (Obligations Of Pledge Holder) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 71-2-106 (2026).

Text

71-2-106 . Obligations of pledge holder.

(1)A pledge holder for reward may not be self-exonerated from the pledge holder's undertaking. A gratuitous pledge holder may be self-exonerated only by giving reasonable notice to the pledgor and pledgee to appoint a new pledge holder and, if they fail to agree, by depositing the property pledged with some impartial person, who will then be entitled to a reasonable compensation for that person's care of the property.

(2)A pledge holder shall enforce all the rights of the pledgee unless authorized by the pledgee to waive those rights.

Free access — add to your briefcase to read the full text and ask questions with AI

71-2-106 . Obligations of pledge holder. (1) A pledge holder for reward may not be self-exonerated from the pledge holder's undertaking. A gratuitous pledge holder may be self-exonerated only by giving reasonable notice to the pledgor and pledgee to appoint a new pledge holder and, if they fail to agree, by depositing the property pledged with some impartial person, who will then be entitled to a reasonable compensation for that person's care of the property.
(2) A pledge holder shall enforce all the rights of the pledgee unless authorized by the pledgee to waive those rights.

Legislative History

(1)En. Sec. 3899, Civ. C. 1895; re-en. Sec. 5783, Rev. C. 1907; re-en. Sec. 8301, R.C.M. 1921; Cal. Civ. C. Sec. 2995; Field Civ. C. Sec. 1656; re-en. Sec. 8301, R.C.M. 1935; Sec. 65-110, R.C.M. 1947; (2)En. Sec. 3900, Civ. C. 1895; re-en. Sec. 5784, Rev. C. 1907; re-en. Sec. 8302, R.C.M. 1921; Cal. Civ. C. Sec. 2996; Field Civ. C. Sec. 1657; re-en. Sec. 8302, R.C.M. 1935; Sec. 65-111, R.C.M. 1947; R.C.M. 1947, 65-110, 65-111; amd. Sec. 2255, Ch. 56, L. 2009.