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Code · Montana · Title 71 — Mortgages, Pledges, and Liens · Chapter 2 · Part 1

71-2-106. Obligations of pledge holder.

96 words·~1 min read·/mt/title-71/chapter-2/part-1/71-2-106

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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.
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