Usufruct
Article 3158

Enforcement of pledge of a movable ACTIVE

If agreed in a written contract of pledge of a movable, the pledgee may, upon failure of performance of the secured obligation, dispose of the thing pledged at public auction or by private sale, but he shall act reasonably in disposing of the thing and shall account to the pledgor for any proceeds of the disposition in excess of the amount needed to satisfy the secured obligation. Otherwise, the pledgee may cause the sale of the thing pledged only by having it seized and sold under judicial process.

Actions

JSON Markdown Source (legis.la.gov)

References

None.

Cited by

None.

History

  • enactment Acts 1900, No. 157, §1
  • amendment Acts 1952, No. 290, §1
  • amendment Acts 1989, No. 137, §17, eff. June 22, 1989
  • amendment Acts 2014, No. 281, §1, eff. Jan. 1, 2015

Article navigation

Cite Article 3158

Bluebook
La. Civ. Code art. 3158 (2026).
Permalink
https://theusufruct.com/cc/3158
BibTeX
@misc{lacivcode-art-3158,
  title        = {La. Civ. Code art. 3158},
  howpublished = {Louisiana Civil Code},
  year         = {2026},
  url          = {https://theusufruct.com/cc/3158},
  note         = {Snapshot 2026-05-22}
}