Louisiana § 10:9-301 Law governing perfection and priority of security interests

Louisiana Statutes

§ 10:9-301 — Law governing perfection and priority of security interests

Louisiana·Title 10 Commercial Laws

§9-301. Law governing perfection and priority of security interests Except as otherwise provided in R.S. 10:9-303 through 9-306.2, the following rules determine the law governing perfection, the effect of perfection or nonperfection, and the priority of a security interest in collateral:

(1)Except as otherwise provided in this Section, while a debtor is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in collateral.

(2)Except as provided in Paragraph (5),while collateral is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a possessory security interest in that collateral.

(3)Exc

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§9-301. Law governing perfection and priority of security interests
Except as otherwise provided in R.S. 10:9-303 through 9-306.2, the following rules
determine the law governing perfection, the effect of perfection or nonperfection, and the
priority of a security interest in collateral:
(1) Except as otherwise provided in this Section, while a debtor is located in a
jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or
nonperfection, and the priority of a security interest in collateral.
(2) Except as provided in Paragraph (5),while collateral is located in a jurisdiction,
the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection,
and the priority of a possessory security interest in that collateral.
(3) Except as otherwise provided in Paragraphs (4) and (5) of this Section, while
negotiable tangible documents, goods, instruments, or money is located in a jurisdiction, the
local law of that jurisdiction governs:
(A) perfection of a security interest in the goods by filing a fixture filing;
(B) perfection of a security interest in timber to be cut; and
(C) the effect of perfection or nonperfection and the priority of a nonpossessory
security interest in the collateral.
(4) The local law of the jurisdiction in which the wellhead or minehead is located
governs perfection, the effect of perfection or nonperfection, and the priority of a security
interest in as-extracted collateral.
(5) The local law of this State governs perfection, the effect of perfection or
nonperfection, and the priority of a security interest in a collateral mortgage note.

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Legislative History

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. 884, §4, eff. Jan. 1, 1996; Acts 1995, No. 1201, §4, eff. June 29, 1995; Acts 2001, No. 128, §1, eff. July 1, 2001; Acts 2009, No. 207, §5, eff. Jan. 1, 2010; Acts 2024, No. 773, §1.