Louisiana Civil Code 3065 – Qualifications of legal surety; evidenced by affidavit; lack thereof not a defense
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Terms Used In Louisiana Civil Code 3065
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Contract: A legal written agreement that becomes binding when signed.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Legal suretyship may be given only by a person authorized to conduct a surety business in Louisiana or by a natural person domiciled in this state who owns property in this state that is subject to seizure and is of sufficient value to satisfy the obligation of the surety.
The qualification of a natural person to act as legal surety must be evidenced by his affidavit and the affidavit of the principal obligor.
A legal surety may not raise his lack of qualification as a defense to an action on his contract.
Acts 1987, No. 409, §1, eff. Jan. 1, 1988.