Exoneration of pledgeholder

N.D. Cent. Code § 35-06-09
in effect
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35-06-09. Exoneration of pledgeholder 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.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t35c06.pdf#nameddest=35-06-09Fetched: 10/16/2026

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