Montana Code 71-2-108. When pledge may not be withdrawn
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71-2-108. When pledge may not be withdrawn. A person who pledges property as security for the obligation of another cannot withdraw the property pledged except in the manner that a personal pledgor might, and if the person receives from the debtor a consideration for the pledge, the person may not withdraw it without the debtor’s consent.
Terms Used In Montana Code 71-2-108
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
- Property: means real and personal property. See Montana Code 1-1-205