35-06-09. Exoneration of pledgeholder.
67 words·~1 min read·
/nd/title-35/chapter-35-06-pledge/35-06-09·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A pledgeholder for reward cannot exonerate the pledgeholder from the pledgeholder's undertaking, and a gratuitous pledgeholder can do so only by giving reasonable notice to the pledgor and pledgee to appoint a new pledgeholder, and in case of their failure to agree, by depositing the property pledged with some impartial person who then will be entitled to a reasonable compensation for that person's care of the same.