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pledgor
[ plej-awr ]
pledgor
/ plɛdʒˈɔː; ˈplɛdʒə /
noun
- a person who gives or makes a pledge
Example Sentences
But if the pledgor has transferred his right to vote the stock, he cannot ask a court to restore his right to vote it until the purpose for which it was pledged has been satisfied.
A court of equity though may do this, and enjoin a pledgee from voting the stock whenever the pledgor's rights would be affected.
Should the pledgor acquiesce for years in the control of the stock by the pledgee, who is the record owner, and not inform the company of his ownership until the holding of a contested election, he would be too late to claim the right to vote.
It may be added that notices of meetings should be sent to whoever has the right to vote the stock, to the pledgor if the stock still stands in his name, to the pledgee if the stock has been transferred to him and stands in his name.
In other cases, if the record remains unchanged, the pledgor can vote the stock.
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