Professional statute overview
Enactment structure, operative effect and source provenance
01
Purpose and legislative effect
“If a debtor pays interest or principal on an obligation, that payment counts as an acknowledgement of other pledged obligations tied to that obligation.”
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02
How the instrument operates
- 01
Start with the recorded version
Undated source snapshot. The date shown identifies this source expression and should not be treated as proof that no later change exists.
- 02
Locate the controlling provision
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- 03
Read conditions and exceptions together
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- 04
Verify currency and official wording
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03
Research entry points
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If a debtor pays interest or principal on an obligation, that payment counts as an acknowledgement of other pledged obligations tied to that obligation.
Section 9:5807
04
Source and current-law status
Source record view
Source record from legis.la.gov · Undated source snapshot
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