Minnesota Statutes 48.18 – Pledges or Liens of Assets Subject to Prior Liens
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No bank or trust company shall pledge or hypothecate or create a lien upon or charge against any of its assets subject to a prior lien, hypothecation, or charge.
Terms Used In Minnesota Statutes 48.18
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Lien: A claim against real or personal property in satisfaction of a debt.