Louisiana Civil Code 3159 – Acts of pledge in favor of banks
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Terms Used In Louisiana Civil Code 3159
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
The pledgee is entitled to receive the fruits of the thing pledged and to retain them as security. He may also apply them to the secured obligation, even if not yet due.
Amended by Acts 1900, No. 157, §2; Acts 2014, No. 281, §1, eff. Jan. 1, 2015.