TITLE 28

COMMERCIAL TRANSACTIONS

CHAPTER 23

REPURCHASE OF FARM MACHINERY AND EQUIPMENT UPON TERMINATION OF CONTRACT

28-23-109.  Guaranty and security agreement personal asset limit. No party or person signing a security agreement or guaranty agreement with a manufacturer, distributor or wholesaler, shall be required to pledge or encumber its or his personal assets in a value in excess of the amount of the indebtedness secured.

History:

[28-23-109, added 1975, ch. 97, sec. 9, p. 197.]