Where there is a possessory pledge, the pledgee creditor or the third party agreed upon by the parties shall keep the collateral and ensure its conservation as a paid bailee does.
Similarly, where the settlor retains possession of the collateral, he shall keep same as a responsible person and in particular by insuring same against of loss, partial or total damage.
Official translation
Transcription: Spot-checked
In force from 16-05-2011
Source page 29
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
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