The Banking Act of The Republic of China Article 30

Where a bank extends loans, issues letters of credit or issues guarantees, and the borrower, mandator, or the guaranteed which is a company limited by shares and whose board of directors resolves to issue a written commitment to the bank offering certain property as security and agreeing not to pledge or mortgage the same property to their other creditors, the bank may permanently or temporarily waive the registration of mortgages over immovables or movables or the transfer of possession of the pledged property. However, the debtor shall supplement it within a period of time prescribed by the bank when the bank considers it necessary.Where the borrower, mandator, or guaranteed breaches the commitment in the preceding paragraph, their directors and actors who participated in deciding the breach shall be jointly and severally liable for the compensation.