reglab/housing_qa huggingface dataset:
LA Rev Stat § 10:9-107.1 (2021)
2021 Louisiana Laws|Revised Statutes|Title 10 - Commercial Laws|§9-107.1. Control over life insurance policy

RS 9-107.1 - Control over life insurance policy (a) Requirements for control. A secured party has control over a life insurance policy: (1) if the secured party is the insurer that issued the policy; or (2) if the secured party is not also the insurer, the insurer authenticates a record acknowledging notice of the granting of a security interest to the secured party in the policy. (b) Additional requirement: consent of beneficiary. If the beneficiary of a life insurance policy taken as collateral is not the insured or his estate, a security interest does not attach with respect to rights under the policy until the policy beneficiary authenticates a record evidencing the beneficiary's consent to the security interest. This requirement does not apply when the beneficiary may be changed upon the sole request of the insured or when the policy itself provides that it may be pledged or assigned without the beneficiary's consent. Acts 2001, No. 128, §1, eff. July 1, 2001; Acts 2004, No. 303, §2.
LA Rev Stat § 10:9-107.2 (2021)
2021 Louisiana Laws|Revised Statutes|Title 10 - Commercial Laws|§9-107.2. Control conditioned on default

RS 9-107.2 - Control conditioned on default A secured party that has satisfied R.S. 10:9-104, 9-105, 9-106, 9-107 or 9-107.1 has control with respect to such collateral even if the secured party has agreed not to exercise such control until a default by the debtor or obligor or other unfulfilled condition is met. Acts 2001, No. 128, §1, eff. July 1, 2001; Acts 2004, No. 303, §2.
LA Rev Stat § 10:9-108 (2021)
2021 Louisiana Laws|Revised Statutes|Title 10 - Commercial Laws|§9-108. Sufficiency of description

RS 9-108 - Sufficiency of description (a) Sufficiency of description. Except as otherwise provided in Subsections (c), (d), and (e), a description of personal property is sufficient, whether or not it is specific, if it reasonably identifies what is described. (b) Examples of reasonable identification. Except as otherwise provided in Subsection (d), a description of collateral reasonably identifies the collateral if it identifies the collateral by: (1) specific listing; (2) category; (3) except as otherwise provided in Subsection (e), a type of collateral defined in this Title; (4) quantity; (5) computational or allocational formula or procedure; or (6) except as otherwise provided in Subsection (c), any other method, if the identity of the collateral is objectively determinable. (c) Supergeneric description not sufficient. A description of collateral as "all the debtor's assets" or "all the debtor's personal property" or using words of similar import does not reasonably identify the collateral. (d) Investment property. Except as otherwise provided in Subsection (e), a description of a security entitlement, securities account, or commodity account is sufficient if it describes: (1) the collateral by those terms or as investment property; or (2) the underlying financial asset or commodity contract. (e) When description by type insufficient. A description only by type of collateral defined in this Title is an insufficient description of: (1) a tort claim other than as a form of proceeds under R.S. 10:9-315; (2) in a consumer transaction, consumer goods, a security entitlement, a securities account, or a commodity account; (3) a life insurance policy; (4) a judgment, other than as a form of proceeds under R.S. 10:9-315; (5) a beneficial interest in a trust; (6) an interest in an estate; or (7) a collateral mortgage note. Acts 1988, No. 528, §1, eff. Jan. 1, 1990; Acts 1989, No. 135, §7, eff. Jan. 1, 1990; Acts 2001, No. 128, §1, eff. July 1, 2001.
LA Rev Stat § 10:9-201 (2021)
2021 Louisiana Laws|Revised Statutes|Title 10 - Commercial Laws|§9-201. General effectiveness of security agreement

RS 9-201 - General effectiveness of security agreement (a) General effectiveness. Except as otherwise provided in this Title, a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against creditors. (b) Applicable consumer laws and other law. A transaction subject to this Chapter is subject to any applicable statute or regulation that establishes a different rule for consumers and any other statute or regulation that regulates the rates, charges, agreements, and practices for loans or other extensions of credit. (c) Other applicable law controls. In case of conflict between this Chapter and a consumer protection statute or regulation described in Subsection (b), the consumer protection statute or regulation controls. Failure to comply with a statute or regulation described in Subsection (b) has only the effect the statute or regulation specifies. (d) Further deference to other applicable law. This Chapter does not: (1) validate any rate, charge, agreement, or practice that violates a statute or regulation described in Subsection (b); or (2) extend the application of the statute or regulation to a transaction not otherwise subject to it. Acts 1988, No. 528, §1, eff. Jan. 1, 1990; Acts 1989, No. 135, §7, eff. Jan. 1, 1990; Acts 1990, No. 1079, §4, eff. Sept. 1, 1990; Acts 1995, No. 1201, §3, eff. June 29, 1995; Acts 1997, No. 1295, §2; Acts 2001, No. 128, §1, eff. July 1, 2001.
LA Rev Stat § 10:9-202 (2021)
2021 Louisiana Laws|Revised Statutes|Title 10 - Commercial Laws|§9-202. Title to collateral immaterial

RS 9-202 - Title to collateral immaterial Except as otherwise provided with respect to consignments or sales of accounts, chattel paper, payment intangibles, or promissory notes, the provisions of this Chapter with regard to rights and obligations apply whether title to collateral is in the secured party or the debtor. Acts 1988, No. 528, §1, eff. Jan. 1, 1990; Acts 1989, No. 135, §7, eff. Jan. 1, 1990; Acts 2001, No. 128, §1, eff. July 1, 2001.
LA Rev Stat § 10:9-204 (2021)
2021 Louisiana Laws|Revised Statutes|Title 10 - Commercial Laws|§9-204. After-acquired property; future advances

RS 9-204 - After-acquired property; future advances (a) After-acquired collateral. Except as otherwise provided in Subsection (b), a security agreement may create or provide for a security interest in after-acquired collateral. (b) When after-acquired property clause not effective. A security interest does not attach under a term constituting an after-acquired property clause to: (1) consumer goods, other than an accession when given as additional security, unless the debtor acquires rights in them within ten days after the secured party gives value; (2) a tort claim; (3) a judgment; (4) a life insurance policy; (5) a beneficial interest in a trust; (6) an interest in an estate; or (7) a collateral mortgage note. (c) Future advances and other value. A security agreement may provide that collateral secures, or that accounts, chattel paper, payment intangibles, or promissory notes are sold in connection with, future advances or other value, whether or not the advances or value are given pursuant to commitment. Acts 1988, No. 528, §1, eff. Jan. 1, 1990; Acts 1989, No. 135, §7, eff. Jan. 1, 1990; Acts 2001, No. 128, §1, eff. July 1, 2001.
LA Rev Stat § 10:9-205 (2021)
2021 Louisiana Laws|Revised Statutes|Title 10 - Commercial Laws|§9-205. Use or disposition of collateral permissible

RS 9-205 - Use or disposition of collateral permissible (a) When security interest not invalid or fraudulent. A security interest is not invalid or fraudulent against creditors solely because: (1) the debtor has the right or ability to: (A) use, commingle, or dispose of all or part of the collateral, including returned or repossessed goods; (B) collect, compromise, enforce, or otherwise deal with collateral; (C) accept the return of collateral or make repossessions; or (D) use, commingle, or dispose of proceeds; or (2) the secured party fails to require the debtor to account for proceeds or replace collateral. (b) Requirements of possession not relaxed. This Section does not relax the requirements of possession if attachment, perfection, or enforcement of a security interest depends upon possession of the collateral by the secured party. Acts 1988, No. 528, §1, eff. Jan. 1, 1990; Acts 1989, No. 135, §7, 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 § 10:9-206 (2021)
2021 Louisiana Laws|Revised Statutes|Title 10 - Commercial Laws|§9-206. Security interest arising in purchase or delivery of financial asset

RS 9-206 - Security interest arising in purchase or delivery of financial asset (a) Security interest when person buys through securities intermediary. A security interest in favor of a securities intermediary attaches to a person's security entitlement if: (1) the person buys a financial asset through the securities intermediary in a transaction in which the person is obligated to pay the purchase price to the securities intermediary at the time of the purchase; and (2) the securities intermediary credits the financial asset to the buyer's securities account before the buyer pays the securities intermediary. (b) Security interest secures obligation to pay for financial asset. The security interest described in Subsection (a) secures the person's obligation to pay for the financial asset. (c) Security interest in payment against delivery transaction. A security interest in favor of a person that delivers a certificated security or other financial asset represented by a writing attaches to the security or other financial asset if: (1) the security or other financial asset: (A) in the ordinary course of business is transferred by delivery with any necessary indorsement or assignment; and (B) is delivered under an agreement between persons in the business of dealing with such securities or financial assets; and (2) the agreement calls for delivery against payment. (d) Security interest secures obligation to pay for delivery. The security interest described in Subsection (c) secures the obligation to make payment for the delivery. Acts 1988, No. 528, §1, eff. Jan. 1, 1990; Acts 1989, No. 135, §7, eff. Jan. 1, 1990; Acts 2001, No. 128, §1, eff. July 1, 2001.
LA Rev Stat § 10:9-207 (2021)
2021 Louisiana Laws|Revised Statutes|Title 10 - Commercial Laws|§9-207. Rights and duties of secured party having possession or control of collateral

RS 9-207 - Rights and duties of secured party having possession or control of collateral (a) Duty of care when secured party in possession. Except as otherwise provided in Subsection (d), a secured party shall use reasonable care in the custody and preservation of collateral in the secured party's possession. In the case of chattel paper or an instrument, reasonable care includes taking necessary steps to preserve rights against prior parties unless otherwise agreed. (b) Expenses, risks, duties, and rights when secured party in possession. Except as otherwise provided in Subsection (d), if a secured party has possession of collateral: (1) reasonable expenses, including the cost of insurance and payment of taxes or other charges, incurred in the custody, preservation, use, or operation of the collateral are chargeable to the debtor and are secured by the collateral; (2) the risk of accidental loss or damage is on the debtor to the extent of a deficiency in any effective insurance coverage; (3) the secured party shall keep the collateral identifiable, but fungible collateral may be commingled; and (4) the secured party may use or operate the collateral: (A) for the purpose of preserving the collateral or its value; (B) as permitted by an order of a court having competent jurisdiction; or (C) except in the case of consumer goods, in the manner and to the extent agreed by the debtor. (c) Duties and rights when secured party in possession or control. Unless otherwise agreed by the parties and except as otherwise provided in Subsection (d), a secured party having 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: (1) may hold as additional security any proceeds, except money or funds, received from the collateral; (2) shall apply money or funds received from the collateral to reduce the secured obligation, unless remitted to the debtor; and (3) may create a security interest in the collateral subject to and on terms that do not impair the debtor's right to redeem it. (d) Buyer of certain rights to payment. If the secured party is a buyer of accounts, chattel paper, payment intangibles, or promissory notes or is a consignor: (1) Subsection (a) does not apply unless the secured party is entitled under an agreement: (A) to charge back uncollected collateral; or (B) otherwise to full or limited recourse against the debtor or a secondary obligor based on the nonpayment or other default of an account debtor or other obligor on the collateral; and (2) Subsections (b) and (c) do not apply. Acts 1988, No. 528, §1, eff. Jan. 1, 1990; Acts 1989, No. 135, §7, eff. Jan. 1, 1990; Acts 1990, No. 1079, §4, eff. Sept. 1, 1990; Acts 2001, No. 128, §1, eff. July 1, 2001; Acts 2009, No. 207, §5, eff. Jan. 1, 2010.
LA Rev Stat § 10:9-209 (2021)
2021 Louisiana Laws|Revised Statutes|Title 10 - Commercial Laws|§9-209. Duties of secured party if account debtor has been notified of assignment

RS 9-209 - Duties of secured party if account debtor has been notified of assignment (a) Applicability of Section. Except as otherwise provided in Subsection (c), this Section applies if: (1) there is no outstanding secured obligation; and (2) the secured party is not committed to make advances, incur obligations, or otherwise give value. (b) Duties of secured party after receiving demand from debtor. Within ten days after receiving an authenticated demand by the debtor, a secured party shall send to an account debtor that has received notification of an assignment to the secured party as assignee under R.S. 10:9-406(a) an authenticated record that releases the account debtor from any further obligation to the secured party. (c) Inapplicability to sales. This Section does not apply to an assignment constituting the sale of an account, chattel paper, or payment intangible. Acts 2001, No. 128, §1, eff. July 1, 2001.
LA Rev Stat § 10:9-211 (2021)
2021 Louisiana Laws|Revised Statutes|Title 10 - Commercial Laws|§9-211. Repealed by Acts 2006, 1st Ex. Sess., No. 14, §2, eff. Feb. 23, 2006, and Acts 2006, 1st Ex. Sess., No. 21, §2, eff. April 1, 2006.

RS 9-211 - Repealed by Acts 2006, 1st Ex. Sess., No. 14, §2, eff. Feb. 23, 2006, and Acts 2006, 1st Ex. Sess., No. 21, §2, eff. April 1, 2006.
LA Rev Stat § 10:9-308 (2021)
2021 Louisiana Laws|Revised Statutes|Title 10 - Commercial Laws|§9-308. When security interest or agricultural lien is perfected; continuity of perfection

RS 9-308 - When security interest or agricultural lien is perfected; continuity of perfection (a) Perfection of security interest. Except as otherwise provided in this Section and R.S. 10:9-309, a security interest is perfected if it has attached and all of the applicable requirements for perfection in R.S. 10:9-310 through 9-316 have been satisfied. A security interest is perfected when it attaches if the applicable requirements are satisfied before the security interest attaches. (b) Perfection of agricultural lien. An agricultural lien is perfected if it has become effective and all of the applicable requirements for perfection in R.S. 10:9-309 or 9-310 have been satisfied. An agricultural lien is perfected when it becomes effective if the applicable requirements are satisfied before the agricultural lien becomes effective. (c) Continuous perfection; perfection by different methods. A security interest or agricultural lien is perfected continuously if it is originally perfected by one method under this Chapter and is later perfected by another method under this Chapter, without an intermediate period when it was unperfected. (d) Supporting obligation. Perfection of a security interest in collateral also includes the rights to a supporting obligation for the collateral. (e) Lien securing right to payment. Perfection of a security interest in a right to payment or performance also includes the rights to a security interest, mortgage, or lien on personal or real property securing the right. (f) Security entitlement carried in securities account. Perfection of a security interest in a securities account also perfects a security interest in the security entitlements carried in the securities account. (g) Commodity contract carried in commodity account. Perfection of a security interest in a commodity account also perfects a security interest in the commodity contracts carried in the commodity account. Acts 1988, No. 528, §1, eff. Jan. 1, 1990; Acts 1989, No. 135, §7, eff. Jan. 1, 1990; Acts 2001, No. 128, §1, eff. July 1, 2001; Acts 2010, No. 378, §3.
LA Rev Stat § 10:9-309 (2021)
2021 Louisiana Laws|Revised Statutes|Title 10 - Commercial Laws|§9-309. Security interest perfected upon attachment

RS 9-309 - Security interest perfected upon attachment The following security interests are perfected when they attach: (1) a purchase-money security interest in consumer goods, except as otherwise provided in R.S. 10:9-501(a)(1) with respect to titled motor vehicles and R.S. 10:9-311(b) with respect to consumer goods that are subject to a statute or treaty described in R.S. 10:9-311(a) and R.S. 10:9-501(a)(3) with respect to a titled vessel or outboard motor; (2) an assignment of accounts or payment intangibles which does not by itself or in conjunction with other assignments to the same assignee transfer a significant part of the assignor's outstanding accounts or payment intangibles; (3) a sale of a payment intangible; (4) a sale of a promissory note other than a collateral mortgage note; (5) a security interest created by the assignment of a health-care-insurance receivable to the provider of the health-care goods or services; (6) [Reserved.] (7) a security interest of a collecting bank arising under R.S. 10:4-210; (8) a security interest of an issuer or nominated person arising under R.S. 10:5-118; (9) a security interest arising in the delivery of a financial asset under R.S. 10:9-206(c); (10) a security interest in investment property created by a broker or securities intermediary; (11) a security interest in a commodity contract or a commodity account created by a commodity intermediary;  (12) an assignment for the benefit of all creditors of the transferor and subsequent transfers by the assignee thereunder; and (13) An agricultural lien in favor of an agricultural laborer upon crops and upon their proceeds to the extent subject to the agricultural lien. Acts 1988, No. 528, §1, eff. Jan. 1, 1990; Acts 1995, No. 884, §4, eff. Jan. 1, 1996; Acts 2001, No. 128, §1, eff. July 1, 2001; Acts 2004, No. 303, §2; Acts 2007, No. 319, §1, eff. July 1, 2008; Acts 2009, No. 508, §1, eff. Jan. 1, 2011; Acts 2010, No. 378, §3.
LA Rev Stat § 10:9-310 (2021)
2021 Louisiana Laws|Revised Statutes|Title 10 - Commercial Laws|§9-310. When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply

RS 9-310 - When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply (a) General rule: perfection by filing. Except as otherwise provided in Subsection (b) and R.S. 10:9-312(b), a financing statement must be filed to perfect all security interests and agricultural liens. (b) Exceptions: filing not necessary. The filing of a financing statement is not necessary to perfect a security interest: (1) that is perfected under R.S. 10:9-308(d), (e), (f), or (g); (2) that is perfected under R.S. 10:9-309 when it attaches; (3) in property subject to a statute, regulation, or treaty described in R.S. 10:9-311(a); (4) in goods in possession of a bailee when the security interest is perfected under R.S. 10:9-312(d)(1) or (2); (5) in certificated securities, documents, goods, or instruments other than collateral mortgage notes which is perfected without filing, control, or possession under R.S. 10:9-312(e), (f), or (g); (6) in collateral including a collateral mortgage note in the secured party's possession under R.S. 10:9-313; (7) in a certificated security when the security interest is perfected by delivery of the security certificate to the secured party under R.S. 10:9-313; (8) in deposit accounts, electronic chattel paper, electronic documents, investment property, letter-of-credit rights, or life insurance policies when the security interest is perfected by control under R.S. 10:9-314; (9) in proceeds which is perfected under R.S. 10:9-315; or (10) that is perfected under R.S. 10:9-316. (c) Assignment of perfected security interest. If a secured party assigns a perfected security interest or agricultural lien, a filing under this Chapter is not required to continue the perfected status of the security interest against creditors of and transferees from the original debtor. Acts 1988, No. 528, §1, eff. Jan. 1, 1990; Acts 1995, No. 1201, §3, eff. June 29, 1995; Acts 2001, No. 128, §1, eff. July 1, 2001; Acts 2009, No. 207, §5, eff. Jan. 1, 2010.
LA Rev Stat § 10:9-314 (2021)
2021 Louisiana Laws|Revised Statutes|Title 10 - Commercial Laws|§9-314. Perfection by control

RS 9-314 - Perfection by control (a) Perfection by control. A security interest in investment property, deposit accounts, letter-of-credit rights, electronic chattel paper, electronic documents, or a life insurance policy may be perfected by control of the collateral under R.S. 10:7-106, 9-104, 9-105, 9-106, 9-107, or 9-107.1. (b) Specified collateral: time of perfection by control; continuation of perfection. A security interest in deposit accounts, electronic chattel paper, electronic documents, a life insurance policy, or letter-of-credit rights is perfected by control under R.S. 10:7-106, 9-104, 9-105, 9-107, or 9-107.1 when the secured party obtains control and remains perfected by control only while the secured party retains control. (c) Investment property: time of perfection by control; continuation of perfection. A security interest in investment property is perfected by control under R.S. 10:9-106 from the time the secured party obtains control and remains perfected by control until: (1) the secured party does not have control; and (2) one of the following occurs: (A) if the collateral is a certificated security, the debtor has or acquires possession of the security certificate; (B) if the collateral is an uncertificated security, the issuer has registered or registers the debtor as the registered owner; or (C) if the collateral is a security entitlement, the debtor is or becomes the entitlement holder. Acts 1988, No. 528, §1, eff. Jan. 1, 1990; Acts 1989, No. 135, §7, eff. Jan. 1, 1990; Acts 1990, No. 1079, §4, eff. Sept. 1, 1990; Acts 2001, No. 128, §1, eff. July 1, 2001; Acts 2009, No. 207, §5, eff. Jan. 1, 2010.