Terms Used In Louisiana Revised Statutes 9:3310.1

  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC

When equipment is sold to, and is contemporaneously leased under a true or financed lease by the vendee/lessor back to the vendor/lessee, the filing of a financing statement as provided in La. Rev. Stat. 9:3342(B) suffices for the transfer of ownership of the equipment as against third persons.  

Acts 1989, No. 137, §4, eff. Sept.  1, 1989.