Where a collateral of a non-possessory pledge is in danger of perishing, the pledgee-creditor or
the third party agreed upon may by order of the competent court made on the basis of a simple
application cause it to be sold upon giving notice of the said court order to the settlor. The effects
of the pledge shall then be transferred to the proceeds of sale.
Official translation
Spot-checked
In force from 15 December 2010
Source page 29