Terms Used In Louisiana Revised Statutes 3:3660

  • Encumbrance: means any lien, privilege, judgment, mortgage, pledge, pawn, claim, charge, or any other encumbrance of like nature. See Louisiana Revised Statutes 3:1
  • Person: means any individual, partnership, corporation, trust, or other business entity. See Louisiana Revised Statutes 3:3652
  • Security device: means a written security agreement that establishes a creditor's security interest in farm products or any agricultural lien as defined in La. See Louisiana Revised Statutes 3:3652
  • Security interest: means an interest in or encumbrance upon farm products that secures payment or performance of an obligation. See Louisiana Revised Statutes 3:3652

A.  No person shall provide any false or misleading information concerning the name of the owner of any farm products or concerning the existence of any security interest affecting the farm products with the intent to deprive the holder of any of his security under the security interest.  No person shall take any action with respect to the alienation, encumbrance, or other disposition of farm products which are subject to a security device with the intent to deprive the holder of any of his security under the security device.

B.  The signing of the declaration authorized by La. Rev. Stat. 3:3659 without complying with the terms of that declaration shall create the presumption that the person who signed the declaration intended to deprive a holder of a security device affecting the farm products of his security under the security device.

C.  Whoever violates the provisions of this Section shall be fined not more than five thousand dollars, or imprisoned, with or without hard labor, for not more than ten years, or both.

Acts 1989, No. 548, §1, eff. Aug. 22, 1989.

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