This text of Louisiana § 9:5172 (Cancellation; partial cancellation; licensed financial institution) is published on Counsel Stack Legal Research, covering Louisiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
§5172. Cancellation; partial cancellation; licensed financial institution
A. In lieu of complying with the provisions of R.S. 9:5169, 5170, and 5171, a request
for cancellation or partial cancellation may have attached to it the signed, written act of a
licensed financial institution represented by one of its officers and executed or duly
acknowledged before a notary public with or without witnesses, or in any form that is
otherwise self-proving under the provisions of Code of Evidence Article 902(1), (2), (3), or
(8), or an act under private signature by two authorized officers of the licensed financial
institution, declaring that the obligee is a licensed financial institution as defined in
Subsection C of this Section and that the institution meets any of the following criteria:
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§5172. Cancellation; partial cancellation; licensed financial institution
A. In lieu of complying with the provisions of R.S. 9:5169, 5170, and 5171, a request
for cancellation or partial cancellation may have attached to it the signed, written act of a
licensed financial institution represented by one of its officers and executed or duly
acknowledged before a notary public with or without witnesses, or in any form that is
otherwise self-proving under the provisions of Code of Evidence Article 902(1), (2), (3), or
(8), or an act under private signature by two authorized officers of the licensed financial
institution, declaring that the obligee is a licensed financial institution as defined in
Subsection C of this Section and that the institution meets any of the following criteria:
(1) Was the obligee or the authorized agent of the obligee of the obligation secured
by the mortgage or privilege when the obligation was extinguished and that the secured
obligation has been paid or otherwise satisfied or extinguished.
(2) Is the obligee or authorized agent of the obligee of the secured obligation and that
it releases the mortgage or privilege and directs the recorder to cancel its recordation.
(3) Is the obligee or authorized agent of the obligee of the secured obligation and that
it partially releases the mortgage or privilege and directs the recorder to partially cancel its
recordation.
B. When a request for cancellation or partial cancellation is made by the licensed
financial institution, in lieu of attaching a separate act of release or partial release, the
financial institution may include the information required by R.S. 9:5169, 5170, and 5171
if the request is in authentic or authenticated form or otherwise complies with Subsection A
of this Section.
C. For purposes of this Section, a "licensed financial institution" is any person
licensed or regulated by the Louisiana Office of Financial Institutions, or any bank, credit
union, lending agency, or other person conducting such a business that is licensed or
regulated by another state or the United States.