Usufruct
R.S. 9:5324

Schedule of penalties ACTIVE

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.

Actions

JSON Markdown Source (legis.la.gov)

References

None.

Cited by

None.

History

  • enactment Acts 1977, No. 251, §1

Section navigation

Cite R.S. 9:5324

Bluebook
La. Rev. Stat. Ann. § 9:5324 (2026).
Permalink
https://theusufruct.com/rs/title-9/section-5324
BibTeX
@misc{larevstat-9-5324,
  title        = {La. Rev. Stat. Ann. § 9:5324},
  howpublished = {Louisiana Revised Statutes},
  year         = {2026},
  url          = {https://theusufruct.com/rs/title-9/section-5324},
  note         = {Snapshot 2026-05-22}
}