Section 1-19-108 - Liability of Shares Pledged or Used as Collateral

1-19-108. Liability of shares pledged or used as collateral. When shares of any corporation are pledged in good faith, or pledged as collateral security for any loan or debt, and the certificate is delivered upon the pledge or debt, the shares are not liable to be taken on execution against the pledgor except for the excess of their value over the sum for which they have been pledged.