North Dakota Code 35-06-02 – Lien of pledge dependent on possession
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The lien of a pledge is dependent on possession and no pledge is valid until the property pledged is delivered to the pledgee or to a pledgeholder as hereinafter prescribed.
Terms Used In North Dakota Code 35-06-02
- Dependent: A person dependent for support upon another.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Property: includes property, real and personal. See North Dakota Code 1-01-49