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 § 35-06-06

Title 35Liens

Ch. 35-06Pledge

This text of North Dakota § 35-06-06 (Pledge to secure another's obligation - Effect - Withdrawal) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 35-06-06 (2026).

Text

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.