§ 10:9-311 — Perfection of security interests in property subject to certain statutes, regulations,

Louisiana § 10:9-311

• Jurisdiction: Louisiana
• Title 10: Commercial Laws

Text

§9-311. Perfection of security interests in property subject to certain statutes, regulations,
and treaties
(a) Security interest subject to other law. Except as otherwise provided in Subsection
(d) of this Section, the filing of a financing statement is not necessary or effective to perfect
a security interest in property subject to:
(1) a statute, regulation, or treaty of the United States whose requirements for a
security interest's obtaining priority over the rights of a lien creditor with respect to the
property preempt R.S. 10:9-310(a);
(2) R.S. 3:3651 et seq. pertaining to central registry of security interests and liens
affecting farm products or standing timber;
(3) a statute of another jurisdiction which provides for a security interest to be
indicated on a certificate of title as a condition or result of the security interest's obtaining
priority over the rights of a lien creditor with respect to the property.
(b) Compliance with other law. Compliance with the requirements of a statute,
regulation, or treaty described in Subsection (a) for obtaining priority over the rights of a lien
creditor is equivalent to the filing of a financing statement under this Chapter. Except as
otherwise provided in Subsection (d) and R.S. 10:9-313 and 9-316(d) and (e) for goods
covered by a certificate of title, a security interest in property subject to a statute, regulation,
or treaty described in Subsection (a) may be perfected only by compliance with those
requirements, and a security interest in a titled motor vehicle may be perfected only by
compliance with R.S. 10:9-501(a)(1) and R.S. 32:701 et seq., and a security interest in a
titled vessel transferred for the first time on or after July 1, 2008, valued in excess of two
thousand five hundred dollars and required to be numbered, or an outboard motor voluntarily
titled pursuant to the Vessel and Motor Titling Act and transferred for the first time on or
after January 1, 2011, and such vessel or motor is to be principally operated on the waters
of this state, and not held as inventory for sale or lease may be perfected only by compliance
with R.S. 10:9-501(a)(3) and R.S. 34:852.1 et seq., and a security interest so perfected
remains perfected notwithstanding a change in the use or transfer of possession of the
collateral.
(c) Duration and renewal of perfection. Except as otherwise provided in Subsection
(d) and R.S. 10:9-316(d) and (e), duration and renewal of perfection of a security interest
perfected by compliance with the requirements prescribed by a statute, regulation, or treaty
described in Subsection (a) are governed by the statute, regulation, or treaty. In other
respects, the security interest is subject to this Chapter.
(d) Inapplicability to certain inventory. During any period in which collateral subject
to R.S. 32:701 et seq. or R.S. 34:852.1 et seq. is inventory held for sale or lease by a person
or leased by that person as lessor and that person is in the business of selling or leasing goods
of that kind, this Section does not apply to a security interest in that collateral created by that
person.

Legislative History

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 2004, No. 303, §2; Acts 2007, No. 319, §1, eff. July 1, 2008; Acts 2009, No. 508, §1, eff. Jan. 1, 2011; Acts 2012, No. 450, §1, eff. July 1, 2013.