Art. 3068.  Pledge of funds in lieu of suretyship

Legal suretyship may be given whenever the law requires or permits a person to give security for an obligation.  The principal obligor may in lieu of legal suretyship deposit a sum equal to the amount for which he is to furnish security to be held in pledge as security for his obligation.

Acts 1987, No. 409, §1, eff. Jan. 1, 1988.