reglab/housing_qa huggingface dataset:
LA Rev Stat § 10:9-601 (2021)
2021 Louisiana Laws|Revised Statutes|Title 10 - Commercial Laws|§9-601. Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes

RS 9-601 - Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes (a) Rights of secured party after default. After default, a secured party has the rights provided in this Part and, except as otherwise provided in R.S. 10:9-602, those provided by agreement of the parties. A secured party: (1) may reduce a claim to judgment, foreclose, execute upon, or otherwise enforce the claim, security interest, or agricultural lien by any available judicial procedure; and (2) if the collateral is documents, may proceed either as to the documents or as to the goods they cover. (b) Rights and duties of secured party in possession or control. A secured party in possession of collateral or control of collateral under R.S. 10:7-106, 9-104, 9-105, 9-106, 9-107, or 9-107.1 has the rights and duties provided in R.S. 10:9-207. (c) Rights cumulative; simultaneous exercise. The rights under Subsections (a) and (b) are cumulative and may be exercised simultaneously. (d) Rights of debtor and obligor. Except as otherwise provided in Subsection (g) and R.S. 10:9-605, after default, a debtor and an obligor have the rights provided in this Part and by agreement of the parties. (e) Continuation of security interest after judgment. The security interest shall continue when the secured party has reduced its claim to judgment and shall secure the judgment without interruption whether or not the security interest is expressly recognized in the judgment, except to the extent the judgment expressly provides to the contrary. (f) Judicial sale. A judicial sale pursuant to a judgment or by executory process is a foreclosure of the security interest or agricultural lien by judicial procedure within the meaning of this Section. A secured party may purchase at the sale and thereafter hold the collateral free of any other requirements of this Chapter. (g) Consignor or buyer of certain rights to payment. Except as otherwise provided in R.S. 10:9-607(c), this Part imposes no duties upon a secured party that is a consignor or is a buyer of accounts, chattel paper, payment intangibles, or promissory notes. Acts 1989, No. 135, §8, eff. Jan. 1, 1990; Acts 1990, No. 1041, §2, eff. Dec. 1, 1990; Acts 2001, No. 128, §1, eff. July 1, 2001; Acts 2009, No. 207, §5, eff. Jan. 1, 2010.
LA Rev Stat § 10:9-602 (2021)
2021 Louisiana Laws|Revised Statutes|Title 10 - Commercial Laws|§9-602. Waiver and variance of rights and duties

RS 9-602 - Waiver and variance of rights and duties Except as otherwise provided in R.S. 10:9-624, to the extent that they give rights to a debtor or obligor and impose duties on a secured party, the debtor or obligor may not waive or vary the rules stated in the following listed sections: (1) R.S. 10:9-207(b)(4)(C), which deals with use and operation of the collateral by the secured party; (2) R.S. 10:9-210, which deals with requests for an accounting and requests concerning a list of collateral and statement of account; (3) R.S. 10:9-607(c), which deals with collection and enforcement of collateral; (4) R.S. 10:9-608(a) and 9-615(c) to the extent that they deal with application or payment of noncash proceeds of collection, enforcement, or disposition; (5) R.S. 10:9-608(a) and 9-615(d) to the extent that they require accounting for or payment of surplus proceeds of collateral; (6) R.S. 10:9-609 to the extent that it prohibits a secured party from taking possession of collateral; (7) R.S. 10:9-610(b), 9-611, 9-613, and 9-614, which deal with disposition of collateral; (8) R.S. 10:9-615(f), which deals with calculation of a deficiency or surplus when a disposition is made to the secured party, a person related to the secured party, or a secondary obligor; (9) R.S. 10:9-616, which deals with explanation of the calculation of a surplus or deficiency; (10) R.S. 10:9-620, 9-621, and 9-622, which deal with acceptance of collateral in satisfaction of obligation; (11) R.S. 10:9-623, which deals with redemption of collateral; (12) R.S. 10:9-624, which deals with permissible waivers; and (13) R.S. 10:9-625 and 9-626, which deal with the secured party's liability for failure to comply with this Chapter. Acts 1989, No. 135, §8, eff. Jan. 1, 1990; Acts 1990, No. 1079, §4, eff. Sept. 1, 1990; Acts 2001, No. 128, §1, eff. July 1, 2001.
LA Rev Stat § 10:9-603 (2021)
2021 Louisiana Laws|Revised Statutes|Title 10 - Commercial Laws|§9-603. Agreement on standards concerning rights and duties

RS 9-603 - Agreement on standards concerning rights and duties (a) Agreed standards. The parties may determine by agreement the standards measuring the fulfillment of the rights of a debtor or obligor and the duties of a secured party under a rule stated in R.S. 10:9-602 if the standards are not manifestly unreasonable. (b) [Reserved.] Acts 1989, No. 135, §8, eff. Jan. 1, 1990; Acts 1990, No. 1079, §4, eff. Sept. 1, 1990; Acts 2001, No. 128, §1, eff. July 1, 2001.
LA Rev Stat § 10:9-604 (2021)
2021 Louisiana Laws|Revised Statutes|Title 10 - Commercial Laws|§9-604. Procedure if security agreement covers real property or fixtures

RS 9-604 - Procedure if security agreement covers real property or fixtures (a) Enforcement: personal and real property. If a security agreement covers both personal and real property, a secured party may proceed: (1) under this Part as to the personal property without prejudicing any rights with respect to the real property; or (2) as to both the personal property and the real property in accordance with the rights with respect to the real property, in which case the other provisions of this Part do not apply. (b) [Reserved.] (c) Removal of fixtures. Subject to the other provisions of this Part, if a secured party holding a security interest in fixtures has priority over all owners and encumbrancers of the real property, the secured party, after default, may exercise any of the rights the secured party has with respect to the fixtures consistent with this Part. (d) Injury caused by removal. A secured party that removes or causes the removal of fixtures shall promptly reimburse any encumbrancer or owner of the real property, other than the debtor, for the cost of repair of any physical injury caused by the removal. The secured party need not reimburse the encumbrancer or owner for any diminution in value of the real property caused by the absence of the goods removed or by any necessity of replacing them. A person entitled to reimbursement may refuse permission to remove until the secured party gives adequate assurance for the performance of the obligation to reimburse. (e) Separate appraisal. A secured party may demand separate appraisal of the fixtures to fix its interest in the receipts of the sale thereof in any proceeding in which the real property is sold pursuant to execution upon it by a mortgagee or other encumbrancer. Acts 1989, No. 135, §8, eff. Jan. 1, 1990; Acts 2001, No. 128, §1, eff. July 1, 2001.
LA Rev Stat § 10:9-605 (2021)
2021 Louisiana Laws|Revised Statutes|Title 10 - Commercial Laws|§9-605. Unknown debtor or secondary obligor

RS 9-605 - Unknown debtor or secondary obligor A secured party does not owe a duty based on its status as secured party: (1) to a person that is a debtor or obligor, unless the secured party knows: (A) that the person is a debtor or obligor; (B) the identity of the person; and (C) how to communicate with the person; or (2) to a secured party or lienholder that has filed a financing statement against a person, unless the secured party knows: (A) that the person is a debtor; and (B) the identity of the person. Acts 2001, No. 128, §1, eff. July 1, 2001.
LA Rev Stat § 10:9-606 (2021)
2021 Louisiana Laws|Revised Statutes|Title 10 - Commercial Laws|§9-606. Time of default for agricultural lien

RS 9-606 - Time of default for agricultural lien For purposes of this Part, a default occurs in connection with an agricultural lien at the time the secured party becomes entitled to enforce the lien in accordance with the statute under which it was created. Acts 2001, No. 128, §1, eff. July 1, 2001.
LA Rev Stat § 10:9-607 (2021)
2021 Louisiana Laws|Revised Statutes|Title 10 - Commercial Laws|§9-607. Collection and enforcement by secured party

RS 9-607 - Collection and enforcement by secured party (a) Collection and enforcement generally. If so agreed, and in any event after default, a secured party: (1) may notify an account debtor or other person obligated on collateral to make payment or otherwise render performance to or for the benefit of the secured party; (2) may take any proceeds to which the secured party is entitled under R.S. 10:9-315; (3) may enforce the obligations of an account debtor or other person obligated on collateral and exercise the rights of the debtor with respect to the obligation of the account debtor or other person obligated on collateral to make payment or otherwise render performance to the debtor, and with respect to any property that secures the obligations of the account debtor or other person obligated on the collateral; (4) if it holds a security interest in a deposit account perfected by control under R.S. 10:9-104(a)(1), may apply the balance of the deposit account to the obligation secured by the deposit account; and (5) if it holds a security interest in a deposit account perfected by control under R.S. 10:9-104(a)(2) or (3), may instruct the bank to pay the balance of the deposit account to or for the benefit of the secured party. (b) [Reserved.] (c) Commercially reasonable collection and enforcement. A secured party shall proceed in a commercially reasonable manner if the secured party: (1) undertakes to collect from or enforce an obligation of an account debtor or other person obligated on collateral; and (2) is entitled to charge back uncollected collateral or otherwise to full or limited recourse against the debtor or a secondary obligor. (d) Expenses of collection and enforcement. A secured party may deduct from the collections made pursuant to Subsection (c) reasonable expenses of collection and enforcement, including reasonable attorney's fees and legal expenses incurred by the secured party. (e) Duties to secured party not affected. This Section does not determine whether an account debtor, bank, or other person obligated on collateral owes a duty to a secured party. (f) Summary process. A secured party may proceed by summary process against the debtor to obtain any instrument, contract, receipt, or other document in order to exercise its rights under this Chapter or to obtain the endorsement of the debtor to any instrument or other document. Acts 2001, No. 128, §1, eff. July 1, 2001.
LA Rev Stat § 10:9-608 (2021)
2021 Louisiana Laws|Revised Statutes|Title 10 - Commercial Laws|§9-608. Application of proceeds of collection or enforcement; liability for deficiency and right to surplus

RS 9-608 - Application of proceeds of collection or enforcement; liability for deficiency and right to surplus (a) Application of proceeds, surplus, and deficiency if obligation secured. If a security interest or agricultural lien secures payment or performance of an obligation, the following rules apply: (1) A secured party shall apply or pay over for application the cash proceeds of collection or enforcement under R.S. 10:9-607 in the following order to: (A) the reasonable expenses of collection and enforcement and, to the extent provided for by agreement and not prohibited by law, reasonable attorney's fees and legal expenses incurred by the secured party; (B) the satisfaction of obligations secured by the security interest or agricultural lien under which the collection or enforcement is made; and (C) the satisfaction of obligations secured by any subordinate security interest in or lien on the collateral subject to the security interest or agricultural lien under which the collection or enforcement is made if the secured party receives an authenticated demand for proceeds before distribution of the proceeds is completed. (2) If requested by a secured party, a holder of a subordinate security interest or lien shall furnish reasonable proof of the interest or lien within a reasonable time. Unless the holder complies, the secured party need not comply with the holder's demand under Paragraph (1)(C). (3) A secured party need not apply or pay over for application noncash proceeds of collection and enforcement under R.S. 10:9-607 unless the failure to do so would be commercially unreasonable. A secured party that applies or pays over for application noncash proceeds shall do so in a commercially reasonable manner. (4) A secured party shall account to and pay a debtor for any surplus, and the obligor is liable for any deficiency. (b) No surplus or deficiency in sales of certain rights to payment. If the underlying transaction is a sale of accounts, chattel paper, payment intangibles, or promissory notes, the debtor is not entitled to any surplus, and the obligor is not liable for any deficiency. Acts 2001, No. 128, §1, eff. July 1, 2001.
LA Rev Stat § 10:9-609 (2021)
2021 Louisiana Laws|Revised Statutes|Title 10 - Commercial Laws|§9-609. Secured party's right to take possession after default

RS 9-609 - Secured party's right to take possession after default (a) Possession. After default, a secured party may take possession of the collateral only: (1) after the debtor's abandonment, or the debtor's surrender to the secured party, of the collateral; (2) with the debtor's consent given after or in contemplation of default; (3) pursuant to judicial process; or (4) in those cases expressly provided by law other than this Chapter. (b) [Reserved.] (c) [Reserved.] Acts 2001, No. 128, §1, eff. July 1, 2001.
LA Rev Stat § 10:9-610 (2021)
2021 Louisiana Laws|Revised Statutes|Title 10 - Commercial Laws|§9-610. Disposition of collateral after default

RS 9-610 - Disposition of collateral after default (a) Disposition after default. After default, a secured party may sell, lease, license, or otherwise dispose of any or all of the collateral in its present condition or following any commercially reasonable preparation or processing. (b) Commercially reasonable disposition. Every aspect of a disposition of collateral, including the method, manner, time, place, and other terms, must be commercially reasonable. If commercially reasonable, a secured party may dispose of collateral by public or private proceedings, by one or more contracts, as a unit or in parcels, and at any time and place and on any terms. A disclaimer or modification of warranties in a secured party's disposition of collateral is commercially reasonable. (c) Purchase by secured party. A secured party may purchase collateral: (1) at a public disposition; or (2) at a private disposition only if the collateral is of a kind that is customarily sold on a recognized market or the subject of widely distributed standard price quotations, or if the secured party, or a person related to the secured party, is obligated by statute to purchase or repurchase the collateral from the debtor. (d) Warranties on disposition. A sale, lease, license, or other disposition includes the warranties which by operation of law accompany a voluntary disposition of property of the kind subject to the contract. (e) Disclaimer of warranties. A secured party may disclaim or modify warranties under Subsection (d): (1) in a manner that would be effective to disclaim or modify the warranties in a voluntary disposition of property of the kind subject to the contract of disposition. (2) [Reserved.] (f) [Reserved.] Acts 2001, No. 128, §1, eff. July 1, 2001.
LA Rev Stat § 10:9-611 (2021)
2021 Louisiana Laws|Revised Statutes|Title 10 - Commercial Laws|§9-611. Notification before disposition of collateral

RS 9-611 - Notification before disposition of collateral (a) "Notification date." In this Section, "notification date" means the earlier of the date on which: (1) a secured party sends to the debtor and any secondary obligor an authenticated notification of disposition; or (2) the debtor and any secondary obligor waive the right to notification. (b) Notification of disposition required. Except as otherwise provided in Subsection (d), a secured party that disposes of collateral under R.S. 10:9-610 shall send to the persons specified in Subsection (c) a reasonable authenticated notification of disposition. (c) Persons to be notified. To comply with Subsection (b), the secured party shall send an authenticated notification of disposition to: (1) the debtor; (2) any secondary obligor; and (3) if the collateral is other than consumer goods: (A) any other person from which the secured party has received, before the notification date, an authenticated notification of a claim of an interest in the collateral; (B) any other secured party or lienholder that, ten days before the notification date, held a security interest in or lien on the collateral perfected by the filing of a financing statement that: (i) identified the collateral; (ii) was indexed under the debtor's name as of that date; and (iii) was filed in the office in which to file a financing statement against the debtor covering the collateral as of that date; and (C) any other secured party that, ten days before the notification date, held a security interest in the collateral perfected by compliance with a statute, regulation, or treaty described in R.S. 10:9-311(a). (d) Subsection (b) inapplicable: perishable collateral; recognized market. Subsection (b) does not apply if the collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market. (e) Compliance with Subsection (c)(3)(B). A secured party complies with the requirement for notification prescribed by Subsection (c)(3)(B) if: (1) not later than twenty days or earlier than thirty days before the notification date, the secured party requests, in a commercially reasonable manner, information concerning financing statements indexed under the debtor's name in the office indicated in Subsection (c)(3)(B); and (2) before the notification date, the secured party: (A) did not receive a response to the request for information; or (B) received a response to the request for information and sent an authenticated notification of disposition to each secured party or other lienholder named in that response whose financing statement covered the collateral. Acts 2001, No. 128, §1, eff. July 1, 2001.
LA Rev Stat § 10:9-612 (2021)
2021 Louisiana Laws|Revised Statutes|Title 10 - Commercial Laws|§9-612. Timeliness of notification before disposition of collateral

RS 9-612 - Timeliness of notification before disposition of collateral (a) Reasonable time is question of fact. Except as otherwise provided in Subsection (b) and (c), whether a notification is sent within a reasonable time is a question of fact. (b) Ten-day period sufficient in non-consumer transaction. In a transaction other than a consumer transaction, a notification of disposition sent after default and ten days or more before the earliest time of disposition set forth in the notification is sent within a reasonable time before the disposition. (c) Twenty-one-day period sufficient in consumer transaction. In a consumer transaction, a notification of disposition sent after default and twenty-one days or more before the earliest time of disposition set forth in the notification is sent within a reasonable time before the disposition. Acts 2001, No. 128, §1, eff. July 1, 2001.
LA Rev Stat § 10:9-613 (2021)
2021 Louisiana Laws|Revised Statutes|Title 10 - Commercial Laws|§9-613. Contents and form of notification before disposition of collateral: general

RS 9-613 - Contents and form of notification before disposition of collateral: general Except in a consumer-goods transaction, the following rules apply: (1) The contents of a notification of disposition are sufficient if the notification: (A) describes the debtor and the secured party; (B) describes the collateral that is the subject of the intended disposition; (C) states the method of intended disposition; (D) states that the debtor is entitled to an accounting of the unpaid indebtedness and states the charge, if any, for an accounting; and (E) states the time and place of a public disposition or the time after which any other disposition is to be made. (2) Whether the contents of a notification that lacks any of the information specified in Paragraph (1) are nevertheless sufficient is a question of fact. (3) The contents of a notification providing substantially the information specified in Paragraph (1) are sufficient, even if the notification includes: (A) information not specified by that Paragraph; or (B) minor errors that are not seriously misleading. (4) A particular phrasing of the notification is not required. (5) The following form of notification and the form appearing in R.S. 10:9-614(3), when completed, each provides sufficient information: NOTIFICATION OF DISPOSITION OF COLLATERAL To: [Name of debtor, obligor, or other person to which the notification is sent] From:  [Name, address, and telephone number of secured party] Name of Debtor(s): [Include only if debtor(s) are not an addressee] [For a public disposition:] We will sell [or lease or license, as applicable] the [describe collateral] to [the highest qualified bidder] in public as follows: Day and Date: Time: Place: [For a private disposition:] We will sell [or lease or license, as applicable] the [describe collateral] privately sometime after [day and date]. You are entitled to an accounting of the unpaid indebtedness secured by the property that we intend to sell [or lease or license, as applicable] [for a charge of $ ]. You may request an accounting by calling us at [telephone number] [End of Form] Acts 2001, No. 128, §1, eff. July 1, 2001.
LA Rev Stat § 10:9-617 (2021)
2021 Louisiana Laws|Revised Statutes|Title 10 - Commercial Laws|§9-617. Rights of transferee of collateral

RS 9-617 - Rights of transferee of collateral (a) Effects of disposition. A secured party's disposition of collateral after default: (1) transfers to a transferee for value all of the debtor's rights in the collateral; (2) discharges the security interest under which the disposition is made; and (3) discharges any subordinate security interest or subordinate lien. (b) Rights of good-faith transferee. A transferee that acts in good faith takes free of the rights and interests as described in Subsection (a), even if the secured party fails to comply with the requirements of this Chapter or the requirements of any judicial proceeding. (c) Rights of other transferee. If a transferee does not take free of the rights and interests as described in Subsection (a), the transferee takes the collateral subject to: (1) the debtor's rights in the collateral; (2) the security interest or agricultural lien under which the disposition is made; and (3) any other security interest or lien. Acts 2001, No. 128, §1, eff. July 1, 2001.
LA Rev Stat § 10:9-618 (2021)
2021 Louisiana Laws|Revised Statutes|Title 10 - Commercial Laws|§9-618. Rights and duties of certain secondary obligors

RS 9-618 - Rights and duties of certain secondary obligors (a) Rights and duties of secondary obligor. A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after the secondary obligor: (1) receives an assignment of a secured obligation from the secured party; (2) receives a transfer of collateral from the secured party and agrees to accept the rights and assume the duties of the secured party; or (3) is subrogated to the rights of a secured party with respect to collateral. (b) Effect of assignment, transfer, or subrogation. An assignment, transfer, or subrogation described in Subsection (a): (1) is not a disposition of collateral under R.S. 10:9-610; and (2) relieves the secured party of further duties under this Chapter. Acts 2001, No. 128, §1, eff. July 1, 2001.