There is no “invalid argument” or “null pointer” built-in exception in Python. Instead, most functions raise TypeError (invalid type such as NoneType) or ValueError (correct type, but the value is outside of the accepted domain).
If your function requires an object of a particular class and gets None instead, it should probably raise TypeError as you pointed out. In this case, you should check for None explicitly, though, since an object of correct type may evaluate to boolean False if it implements __nonzero__/__bool__:
if MyArg2 is None:
raise TypeError
Python docs:
TypeErrorpython2 / python3ValueErrorpython2 / python3