Louisiana Revised Statutes 13:4108.3 – Relation to Chapter 9 of the Louisiana Commercial Laws
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Terms Used In Louisiana Revised Statutes 13:4108.3
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
The rights or absence thereof of a secured creditor to pursue and collect a deficiency from a debtor, guarantor, or surety in connection with a secured transaction subject to Chapter 9 of the Louisiana Commercial Laws (R.S. 10:9-101, et seq.) shall be exclusively subject to the provisions of Chapter 9.
Added by Acts 1989, No. 137, §8, eff. Sept. 1, 1989.