Louisiana Civil Code 3139 – Law governing security interest
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Terms Used In Louisiana Civil Code 3139
- Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
Security interest is defined by the Uniform Commercial Code, which specifies the kinds of property susceptible of encumbrance by a security interest and governs the manner of creation of security interests and the rights of the holders of security interests against obligors and third persons.
Acts 2014, No. 281, §1, eff. Jan. 1, 2015.