Where the contract of pledge, irrespective of its terms and conditions, has a set of fungibles as subject, the creditor may demand that the settlor maintain their value under pain of the pledge becoming payable before maturity.
The creditor may at any time and at the debtor’s expense obtain from the settlor or the third party agreed upon a statement of the totality of the collaterals as well as an account of all transactions involving them. Where the constitution of the security gives rise to the issue of a note of the pledged stocks, the same power shall be vested on the institution having custody of the said pledge note.
Any institution empowered to receive deposits from the public shall within the meaning of this Uniform act be considered the paying institution.
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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Section 110 of the Acte uniforme révisé portant organisation des sûretés/akn/ohada/act/loi/2010-12-15/aus-2010
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