United States — Louisiana Act or statute

United States — Louisiana legislation

RS 10:7-602

A purchaser for value without notice of the process or injunction takes the document free of a judicial lien.

document of titlegoodslien

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“A purchaser for value without notice of the process or injunction takes the document free of a judicial lien.”

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RS 10:7-602

A purchaser for value without notice of the process or injunction takes the document free of a judicial lien.

Section 10:7-602

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Source record from legis.la.gov · Undated source snapshot

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§ 10:7-602RS 10:7-602Provision

A purchaser for value without notice of the process or injunction takes the document free of a judicial lien.

§7-602. Judicial process against goods covered by negotiable document of title Unless a document of title was originally issued upon delivery of the goods by a person that did not have power to dispose of them, a lien does not attach by virtue of any judicial process to goods in the possession of a bailee for which a negotiable document of title is outstanding unless possession or control of the document is first surrendered to the bailee or the document's negotiation is enjoined. The bailee may not be compelled to deliver the goods pursuant to process until possession or control of the document is surrendered to the bailee or to the court. A purchaser of the document for value without notice of the process or injunction takes free of the lien imposed by judicial process. Added by Acts 1978, No. 164, §1, eff. Jan. 1, 1979; Acts 2009, No. 207, §3, eff. Jan. 1, 2010.
Section 10:7-602Verify source

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