North Dakota § 35-06-06 Pledge to secure another's obligation - Effect - Withdrawal

North Dakota Statutes

§ 35-06-06 — Pledge to secure another's obligation - Effect - Withdrawal

North Dakota·Title 35 Liens·Ch. 35-06 Pledge

Property may be pledged as security for the obligation of a person other than the owner and
in so doing the owner has all the rights of a pledgor for the owner except that one who pledges
property as security for the obligation of another cannot withdraw the property pledged
otherwise than as a pledgor might, and if the owner receives from the debtor a consideration for
the pledge, the owner cannot withdraw it without the debtor's consent.

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Property may be pledged as security for the obligation of a person other than the owner and
in so doing the owner has all the rights of a pledgor for the owner except that one who pledges
property as security for the obligation of another cannot withdraw the property pledged
otherwise than as a pledgor might, and if the owner receives from the debtor a consideration for
the pledge, the owner cannot withdraw it without the debtor's consent.

North Dakota § 35-06-06 (Pledge to secure another's obligation - Effect - Withdrawal) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.