Article 237 of Commercial Code

1 - Any agreement concluded at the time the pledge is created or thereafter, granting the pledgee creditor, in the event of non-payment of the debt when due, the right to acquire ownership of the pledged thing or sell it without observing the provisions laid down in Articles 231 to 233, shall be void. 2 - Nevertheless, after the debt or an instalment thereof falls due, it may be agreed that the debtor shall relinquish the pledged thing or part thereof to his creditor in satisfaction of the debt. The judge may also order that ownership of the pledged thing or part thereof be vested in the pledgee creditor in satisfaction of the debt, provided that its value is charged to him according to the experts' valuation. Chapter Four Deposit in Public Warehouses