Louisiana § 9:5324 Schedule of penalties

Louisiana Statutes

§ 9:5324 — Schedule of penalties

Louisiana § 9:5324

Title 9Civil Code-Ancillaries

This text of Louisiana § 9:5324 (Schedule of penalties) 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.

Bluebook

La. Stat. Ann. § 9:5324 (2026).

Text

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.