Civil Code Article 909June 19, 2019

If the subject of a pledge is securities for which no rights holder is named, a negotiable instrument, or any other securities transferred by endorsement, the pledgee may collect payments receivable on such securities even if the claim secured thereby has not matured. If to do so it is necessary to cause the securities to reach maturity, the pledgee shall also have the right to bring about the maturity by giving notice or by other means. And the debtor may make payments only to the pledgee. "The provisions of Article 905, paragraph 1, or Article 906 apply to payments collected pursuant to the preceding paragraph. "The provisions of Article 906-2 and Article 906-3 apply mutatis mutandis to pledges the subject of which is securities.

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