State Act

Code of Comunidades of 1961

Art. 281 – When the guaranty consists in pledge of objects of gold or silver, these shall be, at the time of auction, weighed and estimated by the goldsmith, designated by the president of the managing committee and paid by the bidder, and kept in the safe of the comunidade, after being conveniently packed in a box or in a bundle closed and sealed with wax seal, with signature or seal of the clerk of the comunidade and of the bidder or of the person indicated by him, everything being recorded in the minutes of adjudication, which shall be signed by the goldsmith and by person chosen by the bidder.