Normas especiales para las garantías personales de los consumidores.
4:101: Scope of application (1) Subject to paragraph (2), this Chapter applies when a security is provided by a consumer. (2) This Chapter is not applicable if: (a) the creditor is also a consumer; or (b) the consumer security provider is able to exercise substantial influence upon the debtor where the debtor is not a natural person.
4:102: Applicable rules (1) A personal security subject to this Chapter is governed by the rules of Chapters 1 and 2, except as otherwise provided in this Chapter. (2) The parties may not, to the detriment of a security provider, exclude the application of the rules of this Chapter or derogate from or vary their effects.
4:104: Form of the contract of security must be in textual form on a durable medium and must be signed by the security provider. A contract of security which does not comply with the requirements of the preceding sentence is void.
4:105: Nature of security provider’s liability. Where this Chapter applies: (a) an agreement purporting to create a security without a maximum amount, whether a global security or not, is considered as creating a dependent security with a fixed amount to be determined according to IV.G. – 2:102 (Dependence of security provider’s obligation) paragraph (3);
4:106: Creditor’s obligations of annual information. (1) Subject to the debtor’s consent, the creditor has to inform the security provider annually about the secured amounts of the principal obligation, interest and other ancillary obligations owed by the debtor on the date of the information. The debtor’s consent, once given, is irrevocable.
4:107: Limiting security with time limit (1) A security provider who has provided a security whose scope is limited to obligations arising, or obligations performance of which falls due, within an agreed time limit may three years after the security became effective limit its effects by giving notice of at least three months to the creditor. The preceding sentence does not apply if the security is restricted to cover specific obligations or obligations arising from specific contracts. The creditor has to inform the debtor immediately on receipt of a notice of limitation of the security by the security provider.
