North Dakota Code 35-06-07 – Pledgeholder defined – Duties
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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.
Terms Used In North Dakota Code 35-06-07
- Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
- Property: includes property, real and personal. See North Dakota Code 1-01-49