Opinion ID: 597120
Heading Depth: 4
Heading Rank: 4

Heading: Louisiana Statutes

Text: 51 Hypothecate and its variations occurs as well in particular provisions of the Louisiana Revised Statutes of 1950. For example, the statutory title governing banks and banking accords an institution the power [t]o borrow money and to mortgage, pledge, hypothecate, or grant a security interest in any of its assets to secure such borrowings. 33 The conjunction or here would not seem to indicate that hypothecate stands separate in meaning and function from either pledge or mortgage, or even from granting a security interest for that matter. 52 The most expansive statutory use of the term is in the Louisiana Business Corporation Law, which gives a corporation or association the power [t]o make contracts and guarantees ... to incur liabilities, to borrow money, to issue notes, bonds and other obligations, and to secure any of its obligations by hypothecation of any kind of property. 34 Hypothecation here clearly denotes any recognized method of creating a security interest in any form or type of property. 53