Montana Code 71-2-101. Definitions
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71-2-101. Definitions. (1) “Pledge” is a deposit of personal property by way of security for the performance of another’s act.
Terms Used In Montana Code 71-2-101
- 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
(2)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 “pledge holder”.