§ 10:9-509 — Persons entitled to file a record

Louisiana § 10:9-509

• Jurisdiction: Louisiana
• Title 10: Commercial Laws

Text

§9-509. Persons entitled to file a record
(a) Person entitled to file record. A person may file an initial financing statement,
amendment that adds collateral covered by a financing statement, or amendment that adds
a debtor to a financing statement only if:
(1) the debtor authorizes the filing in a signed record or pursuant to Subsection (b)
or (c) of this Section; or
(2) the person holds an agricultural lien that has become effective at the time of filing
and the financing statement covers only collateral in which the person holds an agricultural
lien.
(b) Security agreement as authorization. By signing or becoming bound as debtor
by a security agreement, a debtor or new debtor authorizes the filing of an initial financing
statement, and an amendment, covering:
(1) the collateral described in the security agreement; and
(2) property that becomes collateral under R.S. 10:9-315(a)(2), whether or not the
security agreement expressly covers proceeds.
(c) Acquisition of collateral as authorization. By acquiring collateral in which a
security interest or agricultural lien continues under R.S. 10:9-315(a)(1), a debtor authorizes
the filing of an initial financing statement, and an amendment, covering the collateral and
property that becomes collateral under R.S. 10:9-315(a)(2).
(d) Person entitled to file certain amendments. A person may file an amendment
other than an amendment that adds collateral covered by a financing statement or an
amendment that adds a debtor to a financing statement only if:
(1) the secured party of record authorizes the filing; or
(2) the amendment is a termination statement for a financing statement as to which
the secured party of record has failed to file or send a termination statement as required by
R.S. 10:9-513(a) or (c), the debtor authorizes the filing, and the termination statement
indicates that the debtor authorized it to be filed.
(e) Multiple secured parties of record. If there is more than one secured party of
record for a financing statement, each secured party of record may authorize the filing of an
amendment under Subsection (d).

Legislative History

Acts 1991, No. 539, §3, eff. Jan. 1, 1992; Acts 2001, No. 128, §1, eff. July 1, 2001; Acts 2024, No. 773, §1.