35-06-07. Pledgeholder defined - Duties.
49 words·~1 min read·
/nd/title-35/chapter-35-06-pledge/35-06-07·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A pledgor and pledgee may agree upon a third person with whom to deposit the property pledged who, if the third person accepts the deposit, is called a pledgeholder, and the third person must enforce all the rights of the pledgee unless authorized by the pledgee to waive them.