Article 735. Subsequent pledge

(1) A property subject to a pledge securing the performance of a certain obligation (prior pledge) may also be pledged to secure the performance of another obligation of the same or other debtor to the benefit of another pledgee (subsequent pledge).
(2) The constitution of a subsequent pledge is allowed unless prohibited by law.  The ranking of the security interests is determined under Article 736.
(3) A pledgor is under a duty to inform each pledgee holding a subsequent pledge about all prior pledges, failing which it is liable for damages.
(4) A pledgor is under a duty to inform all pledgees holding prior pledges about each subsequent pledge promptly after the creation of each such subsequent pledge, by communicating them the data provided by Article 684 paragraph (4), failing which it is liable for damages.
(5) The amendment of the prior pledges after the constitution of the subsequent pledges will not prejudice the rights of the pledgee holding a subsequent pledgee unless the latter agrees otherwise. In case of increase of the obligation secured by the prior pledge, the pledge which secures the amount of the increase will enjoy a ranking junior to the pledges constituted before the time when the amendment of the pledge was registered.
(6) The provisions of the subsequent pledge do not apply if a pledgee and a pledgor agree to amend an existing pledge to secure certain obligations that prior to that where not secured by such pledge. This should not however prejudice the rights of junior ranking pledgees.