Louisiana Revised Statutes 9:5538 – Relation to Chapter 9 of the Louisiana Commercial Laws
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Terms Used In Louisiana Revised Statutes 9:5538
- Ship: means a tug, pushboat, pullboat, barge, dredge, or other vessel or watercraft of more than fifty tons gross weight to be constructed within the state of Louisiana. See Louisiana Revised Statutes 9:5522
A. This Chapter shall apply to Louisiana ship mortgages that were entered into prior to the time Chapter 9 of the Louisiana Commercial Laws (La. Rev. Stat. 10:9-101, et seq.) became effective, including without limitation those continuing mortgages that affect a property acquired after the effective date and those mortgages that may secure future obligations, lines of credit and other ongoing credit facilities.
B. The provisions of La. Rev. Stat. 9:5522, 5523, 5524, 5525, 5531, 5532, 5533, and 5534 shall continue to apply to the security interests and agreements concerning ships under construction that are entered into under Chapter 9 of the Louisiana Commercial Laws.
Acts 1989, No. 137, §7, eff. Sept. 1, 1989.