A.  A privilege is extinguished over the property upon which it is established, other than a drilling or other rig not owned by the operator, unless a statement of the claimant’s privilege is delivered to the operator within the time specified in La. Rev. Stat. 9:4865(A) for the filing of a statement of privilege or unless the operator is contractually bound to the claimant for the obligation secured by the privilege.

B.  A privilege established over a drilling or other rig, not owned by the operator, is extinguished at the time specified in La. Rev. Stat. 9:4865(A) for the filing of a statement of privilege unless a statement of the claimant’s privilege is delivered to the owner of the rig within that time or unless the owner of the rig is contractually bound to the claimant for the obligation secured by the privilege.

Added by Acts 1968, No. 523, §1; Acts 1985, No. 519, §1; Acts 1995, No. 962, §1.