Pledge of assets

A state trust company may not pledge or create a lien on any of its assets except to secure the repayment of money borrowed or as specifically authorized or required by § 23-51-130 , or by rules adopted under this chapter. An act, deed, conveyance, pledge, or contract in violation of this section is void. Amended by Act 2019, No. 315,§ 2588, eff. 7/24/2019. Acts 1997, No. 940, § 33. A state trust company may not pledge or create a lien on any of its assets except to secure the repayment of money borrowed or as specifically authorized or required by § 23-51-130 , or by rules adopted under this chapter. An act, deed, conveyance, pledge, or contract in violation of this section is void. Amended by Act 2019, No. 315,§ 2588, eff. 7/24/2019. Acts 1997, No. 940, § 33.