Terms Used In Louisiana Revised Statutes 10:9-309

  • Contract: A legal written agreement that becomes binding when signed.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
  • Statute: A law passed by a legislature.

The following security interests are perfected when they attach:

(1)  a purchase-money security interest in consumer goods, except as otherwise provided in R.S. 10:9-501(a)(1) with respect to titled motor vehicles and R.S. 10:9-311(b) with respect to consumer goods that are subject to a statute or treaty described in R.S. 10:9-311(a) and R.S. 10:9-501(a)(3) with respect to a titled vessel or outboard motor;

(2)  an assignment of accounts or payment intangibles which does not by itself or in conjunction with other assignments to the same assignee transfer a significant part of the assignor’s outstanding accounts or payment intangibles;

(3)  a sale of a payment intangible;

(4)  a sale of a promissory note other than a collateral mortgage note;

(5)  a security interest created by the assignment of a health-care-insurance receivable to the provider of the health-care goods or services;

(6)  [Reserved.]

(7)  a security interest of a collecting bank arising under R.S. 10:4-210;

(8)  a security interest of an issuer or nominated person arising under R.S. 10:5-118;

(9)  a security interest arising in the delivery of a financial asset under R.S. 10:9-206(c);

(10)  a security interest in investment property created by a broker or securities intermediary;

(11)  a security interest in a commodity contract or a commodity account created by a commodity intermediary;

(12)  an assignment for the benefit of all creditors of the transferor and subsequent transfers by the assignee thereunder; and

(13)  An agricultural lien in favor of an agricultural laborer upon crops and  upon their proceeds to the extent subject to the agricultural lien.

Acts 1988, No. 528, §1, eff. Jan. 1, 1990; Acts 1995, No. 884, §4, eff. Jan. 1, 1996; Acts 2001, No. 128, §1, eff. July 1, 2001; Acts 2004, No. 303, §2; Acts 2007, No. 319, §1, eff. July 1, 2008; Acts 2009, No. 508, §1, eff. Jan. 1, 2011; Acts 2010, No. 378, §3.