Browse 46,252 source-backed statutes, open stored provisions and move directly into source-grounded legal research.
46,252 statutes · page 19 of 2313
United States — Louisiana legislation
20 statutes shown from 46,252 source-backed records
A security interest can be created in an accession, stays perfected if it was perfected before the collateral became an accession, and may require removal after default in some cases.
The section defines commingled goods and says a security interest does not exist in commingled goods as such, but may attach to the resulting product or mass.
A qualifying buyer can take goods free of a prior security interest if the buyer pays value, receives delivery after the certificate of title is issued, and does not know about the security interest.
A perfected security interest or agricultural lien can lose priority if the filed financing statement contains incorrect information.
A person entitled to priority may agree to subordinate that priority.
A bank may exercise set-off, recoupment, or compensation against a secured party’s deposit account interest, except as Subsection (c) provides.
A bank’s rights and duties for a deposit account are not changed by a security interest, the bank’s knowledge of it, or instructions from the secured party, unless another section applies or the bank agrees otherwise in a signed record.
A bank is not required to enter into a specified control agreement, even if the customer asks, and it is not required to tell another person that the agreement exists unless the customer asks it to.
A control agreement of the specified kind does not automatically waive or subordinate a security interest in favor of the bank unless it expressly says so.
A life insurer does not have to sign this kind of acknowledgment just because a customer asks, and it has no duty to the secured party unless it agrees or other law says otherwise.
This section says other law controls whether a debtor’s rights in collateral can be transferred, and a debtor-secured party agreement cannot stop the transfer from taking effect even if it forbids the transfer or treats it as default.
A secured party is not liable in contract or tort for the debtor’s acts or omissions just because there is a security interest, agricultural lien, or authority for the debtor to use or dispose of collateral.
An assignee can enforce a no-defenses agreement if it takes the assignment for value, in good faith, and without the listed notices.
An assignee’s rights can be limited by the account debtor’s claims and defenses, unless the debtor made an enforceable no-claims/no-defenses agreement.
A modification or substitution of an assigned contract can be effective against the assignee if made in good faith, and the assignee gets corresponding rights under the changed contract.
An account debtor may keep paying the assignor until it gets proper notice of assignment; after notice, it may pay only the assignee.
Certain lease terms cannot block or condition security interests in the lease interest or the lessor’s residual interest, except as stated in subsection (b).
A contract term or law that blocks assignment or creation of a security interest in certain payment rights is ineffective in the ways described here, subject to listed exceptions.
Some restrictions on assigning a beneficiary’s letter-of-credit rights are ineffective.
This section says this Chapter does not override Louisiana Trust Code rules that can bar a beneficiary from assigning or pledging a beneficial interest when the trust instrument says so.
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