{
  "urn": "urn:us-la:rs:9:5324",
  "title_number": "9",
  "section_number": "5324",
  "citation": "R.S. 9:5324",
  "heading": "Schedule of penalties",
  "text": "No penalty for the prepayment of any indebtedness evidenced by an instrument which is secured by a mortgage on rural property may exceed:\n\n(1) five percent of the unpaid principal balance if prepaid during the first year from the date of the instrument;\n\n(2) four percent of the unpaid principal balance if prepaid during the second year from the date of the instrument;\n\n(3) three percent of the unpaid principal balance if prepaid during the third year from the date of the instrument;\n\n(4) two percent of the unpaid principal balance if prepaid during the fourth year from the date of the instrument;\n\n(5) one percent of the unpaid principal balance if prepaid during the fifth year from the date of the instrument;\n\n(6) no prepayment penalty shall be assessed if prepaid more than five years from the date of the instrument.",
  "status": "active",
  "hierarchy_path": [
    {
      "level": "title",
      "number": "9",
      "name": "CIVIL CODE--ANCILLARIES"
    },
    {
      "level": "code_preliminary_title",
      "number": "1",
      "name": "[BLANK]"
    },
    {
      "level": "code_book",
      "number": "III",
      "name": "OF THE DIFFERENT MODES OF ACQUIRING THE OWNERSHIP OF THINGS PRELIMINARY TITLE - GENERAL DISPOSITIONS (BLANK)"
    },
    {
      "level": "code_title",
      "number": "XXII",
      "name": "OF MORTGAGES"
    },
    {
      "level": "chapter",
      "number": "2",
      "name": "CONVENTIONAL MORTGAGES"
    },
    {
      "level": "part",
      "number": "II",
      "name": "MORTGAGES ON RURAL PROPERTY"
    }
  ],
  "breadcrumb": "Title 9 › Code Preliminary Title › Code Book III › Code Title XXII › Chapter 2 › Part II",
  "acts_citations": [
    {
      "act_year": 1977,
      "act_number": 251,
      "section": 1,
      "effective_date": null,
      "effective_date_raw": null,
      "role": "enactment"
    }
  ],
  "acts_citations_raw": "Added by Acts 1977, No. 251, §1.",
  "source_url": "https://legis.la.gov/legis/Law.aspx?d=108194",
  "website_law_id": 108194,
  "scrape_timestamp": "2026-05-22T23:55:25Z",
  "source_html_hash": "sha256:1fa1d051194f64d65c59896a26d510a3c74313769b85e0f11ec73e307761a670",
  "schema_version": "1.0.0"
}