§ 45:1277 — Choice of law; conflicts

Louisiana § 45:1277

• Jurisdiction: Louisiana
• Title 45: Public Utilities and Carriers

Text

§1277. Choice of law; conflicts
A. The law governing the validity, enforceability, attachment, creation, perfection,
the effect of perfection or nonperfection, priority, exercise of remedies, and venue with
respect to the sale, assignment, or transfer of an interest or right or the creation of a security
interest in any energy transition property shall be exclusively the laws of this state, without
applying this state's laws of conflicts of laws and notwithstanding any contrary contractual
provision, except as provided in R.S. 45:1276(F). The validity, enforceability, attachment,
creation, perfection, the effect of perfection or nonperfection, priority, exercise of remedies,
and venue with respect to the sale, assignment, or transfer of an interest or right or the
creation of a security interest in any energy transition property shall be governed by this Part,
and solely to the extent not addressed by this Part, by the Uniform Commercial
Code-Secured Transactions and other laws of this state. The contents and sufficiency of
financing statements referenced in this Part shall be governed by this Part and, to the extent
not addressed by this Part, by the Uniform Commercial Code-Secured Transactions.
Notwithstanding any other law to the contrary, this Part provides that the Uniform
Commercial Code-Secured Transactions applies to the filings of financing statements
referenced in this Part, to perfection, the effect of perfection or nonperfection, and the
priority of security interests held by a secured party having control of deposit accounts or
securities accounts as original collateral securing energy transition bonds, notwithstanding
that proceeds of energy transition charges are deposited therein, and to the enforcement of
security interests in energy transition property, in each case subject to Subsection B of this
Section.
B. In the event of conflict between this Part and any other law regarding the validity,
enforceability, attachment, creation, perfection, the effect of perfection or nonperfection, or
priority of, a sale, assignment, or transfer of, or security interest in, energy transition
property, or the exercise of remedies or venue with respect thereto, this Part shall govern to
the extent of the conflict.
C. This Section shall not be interpreted to conflict with or modify R.S. 45:1276(B).

Legislative History

Acts 2022, No. 255, §2, eff. June 3, 2022.