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United States — Louisiana Act or statute

United States — Louisiana legislation

RS 10:9-205

A security interest is not invalid or fraudulent just because the debtor may deal with the collateral or proceeds, or because the secured party does not require accounting or replacement.

collateralpossessionsecurity interests
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United States — Louisiana
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1 provisions
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“A security interest is not invalid or fraudulent just because the debtor may deal with the collateral or proceeds, or because the secured party does not require accounting or replacement.”

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RS 10:9-205

A security interest is not invalid or fraudulent just because the debtor may deal with the collateral or proceeds, or because the secured party does not require accounting or replacement.

Section 10:9-205

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§ 10:9-205RS 10:9-205Provision

A security interest is not invalid or fraudulent just because the debtor may deal with the collateral or proceeds, or because the secured party does not require accounting or replacement.

§9-205. Use or disposition of collateral permissible (a) When security interest not invalid or fraudulent. A security interest is not invalid or fraudulent against creditors solely because: (1) the debtor has the right or ability to: (A) use, commingle, or dispose of all or part of the collateral, including returned or repossessed goods; (B) collect, compromise, enforce, or otherwise deal with collateral; (C) accept the return of collateral or make repossessions; or (D) use, commingle, or dispose of proceeds; or (2) the secured party fails to require the debtor to account for proceeds or replace collateral. (b) Requirements of possession not relaxed. This Section does not relax the requirements of possession if attachment, perfection, or enforcement of a security interest depends upon possession of the collateral by the secured party. Acts 1988, No. 528, §1, eff. Jan. 1, 1990; Acts 1989, No. 135, §7, eff. Jan. 1, 1990; Acts 1990, No. 1079, §4, eff. Sept. 1, 1990; Acts 2001, No. 128, §1, eff. July 1, 2001.
Section 10:9-205Verify source

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