---
urn: urn:us-la:rs:9:5550
citation: "R.S. 9:5550"
status: active
breadcrumb: "Title 9 › Code Preliminary Title › Code Book III › Code Title XXII › Chapter 5"
acts_citations:
  - { year: 1989, number: 137, section: 7, effective_date: 1989-09-01, role: enactment }
  - { year: 1991, number: 377, section: 3, effective_date: 1992-01-01, role: amendment }
---

# Definitions

The following words, phrases, and terms as used in this Part shall be defined and construed as follows:

(1) "Collateral mortgage" shall mean a mortgage that is given to secure a written obligation, such as a collateral mortgage note, negotiable or nonnegotiable instrument, or other written evidence of debt, that is issued, pledged, or otherwise used as security for another obligation. A collateral mortgage or collateral chattel mortgage may provide on its face that the mortgage is granted in favor of a designated mortgagee and any future holder or holders of the collateral mortgage note.

(2) "Vendor's privilege" shall mean a vendor's lien or vendor's privilege on immovable property that secures a written obligation, such as a collateral mortgage note, negotiable or nonnegotiable instrument, or other written evidence of debt.