Pledge of assets

(a) A state trust company may not pledge or create a lien on any of its assets except: (1) To secure the repayment of money borrowed; (2) As specifically authorized or required by § 45-2-611 ; or (3) By rules adopted under this chapter. (b) An act, deed, conveyance, pledge, or contract in violation of this section is void. Acts 1999, ch. 112, § 10. (a) A state trust company may not pledge or create a lien on any of its assets except: (1) To secure the repayment of money borrowed; (2) As specifically authorized or required by § 45-2-611 ; or (3) By rules adopted under this chapter. (1) To secure the repayment of money borrowed; (2) As specifically authorized or required by § 45-2-611 ; or (3) By rules adopted under this chapter. (b) An act, deed, conveyance, pledge, or contract in violation of this section is void. Acts 1999, ch. 112, § 10.