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.]
Structure Idaho Code
Title 28 - COMMERCIAL TRANSACTIONS
Chapter 23 - REPURCHASE OF FARM MACHINERY AND EQUIPMENT UPON TERMINATION OF CONTRACT
Section 28-23-102 - REPURCHASE OF REPAIR PARTS.
Section 28-23-103 - PROVISIONS OF CONTRACT SUPPLEMENTED.
Section 28-23-104 - DEATH OF DEALER — REPURCHASE FROM HEIRS.
Section 28-23-105 - FAILURE TO PAY SUMS SPECIFIED ON CANCELLATION OF CONTRACTS — LIABILITY.
Section 28-23-106 - EXCEPTIONS.
Section 28-23-107 - DEFINITION.
Section 28-23-108 - GUARANTY AND SECURITY AGREEMENT NOTICE REQUIREMENTS.
Section 28-23-109 - GUARANTY AND SECURITY AGREEMENT PERSONAL ASSET LIMIT.
Section 28-23-110 - PENALTY FOR FAILURE TO GIVE NOTICE OR OBTAIN CONSENT.
Section 28-23-111 - APPLICATION.