Louisiana § 9:5324 Schedule of penalties

Louisiana Statutes

§ 9:5324 — Schedule of penalties

Louisiana·Title 9 Civil Code-Ancillaries

No penalty for the prepayment of any indebtedness evidenced by an instrument which is secured by a mortgage on rural property may exceed:

(1)five percent of the unpaid principal balance if prepaid during the first year from the date of the instrument;

(2)four percent of the unpaid principal balance if prepaid during the second year from the date of the instrument;

(3)three percent of the unpaid principal balance if prepaid during the third year from the date of the instrument;

(4)two percent of the unpaid principal balance if prepaid during the fourth year from the date of the instrument;

(5)one percent of the unpaid principal balance if prepaid during the fifth year from the date of the instrument;

(6)no prepayment penalty shall be assessed if prepaid more than five years from the d

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No penalty for the prepayment of any indebtedness evidenced by an instrument which is secured by a mortgage on rural property may exceed:
(1) five percent of the unpaid principal balance if prepaid during the first year from the date of the instrument;
(2) four percent of the unpaid principal balance if prepaid during the second year from the date of the instrument;
(3) three percent of the unpaid principal balance if prepaid during the third year from the date of the instrument;
(4) two percent of the unpaid principal balance if prepaid during the fourth year from the date of the instrument;
(5) one percent of the unpaid principal balance if prepaid during the fifth year from the date of the instrument;
(6) no prepayment penalty shall be assessed if prepaid more than five years from the date of the instrument.

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