Usufruct
R.S. 9:5388

Authority to carry out and enforce rights ACTIVE

A mortgage or security agreement may contain provisions granting the mortgagee or secured party and its agents the power to carry out and enforce all or any specified portion of the incorporeal rights collaterally assigned or pledged by the mortgagor or on which the mortgagor/debtor has granted a security interest under Chapter 9 of the Louisiana Commercial Laws (R.S. 10:9-101, et seq.). The grant of authority may be phrased in the form of a mandate or power of attorney, coupled with an interest or otherwise. The grant of authority may not be revoked by the mortgagor or debtor so long as the mortgage or security interest remains in effect.

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JSON Markdown Source (legis.la.gov)

References

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History

  • enactment Acts 1988, No. 985, §1
  • amendment Acts 1989, No. 137, §5, eff. Sept. 1, 1989

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Cite R.S. 9:5388

Bluebook
La. Rev. Stat. Ann. § 9:5388 (2026).
Permalink
https://theusufruct.com/rs/title-9/section-5388
BibTeX
@misc{larevstat-9-5388,
  title        = {La. Rev. Stat. Ann. § 9:5388},
  howpublished = {Louisiana Revised Statutes},
  year         = {2026},
  url          = {https://theusufruct.com/rs/title-9/section-5388},
  note         = {Snapshot 2026-05-22}
}