California · Harbors and Navigation Code - HNC
HNC §471: The owner of cargo may hypothecate it upon respondentia, at any time and place, and for any purpose.
What this law says, in plain English
Cargo owners may pledge their cargo as security for a loan (respondentia) at any time, place, and for any purpose.
Read the full statutory text
The owner of cargo may hypothecate it upon respondentia, at any time and place, and for any purpose.
Verify at the official source: California legislative text
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