Louisiana Administrative Code › Title 10 - FINANCIAL INSTITUTIONS, CONSUMER CREDIT, INVESTMENT SECURITIES AND UCC › Part XIX - Uniform Commercial Code › Chapter 3 - Central Registry › Section XIX-301 - Definitions

Current through Register Vol. 50, No. 6, June 20, 2024
Buyer in the Ordinary Course of Business
- a
				  person who, in the ordinary course of business, buys farm products from a
				  person engaged in farming operations and is in the business of selling farm
				  products.
Central Registry
- the master index
				  maintained by the secretary of state reflecting information contained in all
				  effective financing statements, and statements evidencing assignments,
				  amendments, continuations, and terminations thereof.
Commission Merchant
- any person engaged in
				  the business of receiving any farm product for sale, on commission, or for or
				  on behalf of another person.
Creditor
- any person who holds a security
				  interest in a farm product.
Crop Year
-
1. for a crop grown in soil, the calendar year in which it is
				  harvested or to be harvested;
2. for animals, the calendar year in which they are born or
				  acquired; or
3. for poultry or eggs, the calendar year in which they are
				  sold or to be sold.
Cumulative Addendum
- a document listing all
				  information transmitted by the filing officers to the central registry as of
				  the date of issuance that was not included on the most recent master
				  list.
Debtor
- any person who owns or has an
				  ownership interest in farm products which are subject to a security interest of
				  creditors.
Effective Financing Statement
- a written
				  instrument which is an abstract of a security device and which complies with
				  the provisions of
				  R.S.
				  3:3654(E). An effective
				  financing statement may also contain additional information sufficient to
				  constitute a financing statement or other statement under chapter 9 of title 10
				  of the
Louisiana Revised Statutes
.
EFS
- an effective financing
				  statement.
Encumbrance Certificate
- a written document
				  which lists all effective financing statements affecting a person which have
				  been filed with the filing officer and containing the information required by
				  this Chapter to be transmitted to the secretary of state for inclusion in the
				  central registry on the date and at the time the certificate is issued and
				  which complies with the provisions of
				  R.S.
				  3:3654(F).
Farm Product
- any type of crop whether
				  growing or to be grown, and whether harvested or unharvested, or any species of
				  livestock, or any type of agricultural commodity or product raised or
				  cultivated of every type and description, including but not limited to cattle,
				  hogs, sheep, horses, bees, rabbits, or poultry, and oysters, crabs, prawns,
				  shrimp, alligators, turtles, and fish raised, produced, cultivated, harvested,
				  or gathered on any beds of bodies of water, whether owned, leased, or licensed
				  by the debtor, grains, beans, vegetables, grasses, legumes, melons, tobacco,
				  cotton, flowers, shrubberies, plants and fruits, nuts and berries, and other
				  similar products whether of trees or other sources, or if they are a product of
				  such crop or livestock in its unmanufactured state, such as seed, ginned
				  cotton, wool-clip, honey, syrup, meat, milk, eggs, and cut, harvested, or
				  standing timber, or supplies used or produced in farming operations, and if
				  they are in the possession, including civil possession as defined in Civil Code
				  articles 3421 and 3431, of a debtor engaged in planting, producing, raising,
				  cultivating, harvesting, gathering, fattening, grazing, or other farming
				  operations.
Filing
- the receipt of an EFS, amendment,
				  assignment, continuation, release, or termination of an EFS by the filing
				  officer stamped with the date and time received and assigned a file
				  number.
Filing Officer
- the clerk of court of any
				  parish.
Knows
or
Knowledge
- actual
knowledge
.
Master List
- a document listing all
				  effective financing statements, amendments, assignments, and continuations of
				  effective financing statements which:
1. is organized according to farm products; and
2. is arranged within each such product:
a. in alphabetical order according to the last name of the
				  individual debtors, or, in the case of debtors doing business other than as
				  individuals, the first word in the name of such debtors;
b. in numerical order according to the Social Security number
				  of the individual debtors, or, in the case of debtors doing business other than
				  as individuals, the Social Security number or employer identification number of
				  such debtors;
c. geographically by parish; and
d. by crop year.
Office
- the Office of the Secretary of State
				  of the state of Louisiana.
Person
- any individual, partnership,
				  corporation, trust or any other business entity.
Portion
-
portion
of the
				  master list distributed to registrants regularly that cover the farm products
				  in which such registrant has indicated an interest.
Registrant
- any person, who has made
				  application with the Office of the Secretary of State, has paid the required
				  registration fee, and received written notice that his application has been
				  accepted.
Regular Business Day
- any day that the
				  Office of the Secretary of State and filing officers are open for routine
				  business.
Secretary
- the
Secretary
of
				  State of the state of Louisiana, or his duly authorized agent.
Secured Party
- a creditor with a security
				  interest in farm products.
Security Device
- a written instrument that
				  establishes a creditor's security interest in farm products or any pledge or
				  privilege described in
				  R.S. 9:4521, whether or
				  not evidenced by a written instrument.
Security Interest
- an interest in or
				  encumbrance upon farm products that secures payment or performance of an
				  obligation.
Selling Agent
- a person, other than a
				  commission merchant, who is engaged in the business of negotiating the sale and
				  purchase of any farm product on behalf of a person engaged in farm
				  operations.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S. 3:3652,
				  R.S. 3:3654,
				  R.S. 3:3655,
				  R.S.
				  10:9-526,
				  R.S.
				  36:742, Civil Code
				  Articles 3421 and
				  3431,
				  and Public Law 99-198 (Food Security Act of
				  1985).