Terms Used In Louisiana Revised Statutes 10:9-504

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • 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
  • Personal property: All property that is not real property.

A financing statement sufficiently indicates the collateral that it covers if the financing statement provides:

(1)  a description of the collateral pursuant to La. Rev. Stat. 10:9-108;

(2)  an indication that the financing statement covers all assets or all personal property; or

(3)  the year of manufacture, make, model, body style, and manufacturer’s serial or other identification number, in the case of a titled motor vehicle not held as inventory for sale or lease.

(4)  the hull identification number, vessel length, model year or year built, name of manufacturer or model, vessel type, propulsion type, and principal material of hull construction in the case of a titled vessel not held as inventory for sale or lease.

(5)  Serial number, year manufactured, name of manufacturer or model, in the case of a titled outboard motor not held as inventory for sale or lease.

Acts 1988, No. 528, §1, eff. Jan. 1, 1990; Acts 1989, No. 135, §7, eff. Jan. 1, 1990; Acts 2001, No. 128, §1, eff. July 1, 2001; Acts 2007, No. 319, §1, eff. July 1, 2008; Acts 2009, No. 508, §1, eff. Jan. 1, 2011.