Louisiana Revised Statutes 10:9-514.1 – Master assignments and master amendments
Terms Used In Louisiana Revised Statutes 10:9-514.1
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
(a) Master assignment. A secured party of record may assign all of its rights under twenty or more financing statements filed in a parish by filing with the filing office where the financing statements were originally filed a statement of master assignment in the form prescribed by the secretary of state, setting forth:
(1) the initial financing statement to which each relates, by each file number;
(2) the name of the assignor; and
(3) the name and mailing address of the assignee.
(b) Master amendment. A secured party of record may amend to change its name and mailing address twenty or more financing statements filed in a parish by filing with the filing office where the financing statements were originally filed a statement of master amendment in the form prescribed by the secretary of state, setting forth:
(1) by each file number, the initial financing statement to which each relates;
(2) the name of the secured party;
(3) the information that is being amended.
Acts 2001, No. 128, §1, eff. July 1, 2001.