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Commercial Laws

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Short titles

Scope of Chapter

Construction of Uniform Commercial Code to promote its purposes and policies; applicability of supplemental principles of law

Construction against implied repeal

[Reserved.]

[Reserved.]

[Reserved.]

Relation to Electronic Signatures in Global and National Commerce Act

General definitions

Notice; knowledge

Lease distinguished from security interest

Value

Reasonable time; seasonableness

Presumptions

Territorial applicability; parties' power to choose applicable law

Variation by agreement

Course of performance, course of dealing, and usage of trade

Obligation of good faith

Remedies to be liberally administered

[Reserved.]

Prima facie evidence by third-party documents

Performance or acceptance under reservation of rights

Option to accelerate at will

Subordinated obligations

Short title

Subject matter

Definitions

Negotiable instrument

Issue of instrument

Unconditional promise or order

Instrument payable in foreign money

Payable on demand or at definite time

Payable to bearer or to order

Identification of person to whom instrument is payable

Place of payment

Interest

Date of instrument

Contradictory terms of instrument

Incomplete instrument

Joint and several liability; contribution

Other agreements affecting instrument

Prescription

REPEALED BY ACTS 1993, NO. 948, §7, EFF. JAN. 1, 1994.

Negotiation

Negotiation subject to rescission

Transfer of instrument; rights acquired by transfer

Indorsement

Special indorsement; blank indorsement; anomalous indorsement

Restrictive indorsement

Reacquisition

Person entitled to enforce instrument

Holder in due course

Value and consideration

Overdue instrument

Defenses and claims in recoupment

Claims to an instrument

Notice of breach of fiduciary duty

Proof of signatures and status as holder in due course

Enforcement of lost, destroyed, or stolen instrument

Effect of instrument on obligation for which taken

Accord and satisfaction by use of instrument

Lost, destroyed, or stolen cashier's check, teller's check, certified check, or money order

Signature

Signature by representative

Unauthorized signature

Impostors; fictitious payees

Employer's responsibility for fraudulent indorsement by employee

Negligence contributing to forged signature or alteration of instrument

Alteration

Drawee not liable on unaccepted draft

Acceptance of draft; certified check

Acceptance varying draft

Refusal to pay cashier's checks, teller's checks, and certified checks

Obligation of issuer of note or cashier's check

Obligation of acceptor

Obligation of drawer

Obligation of indorser

Transfer warranties

Presentment warranties

Payment or acceptance by mistake

Instruments signed for accommodation

Conversion of instrument

Presentment

Dishonor

Notice of dishonor

Excused presentment and notice of dishonor

Evidence of dishonor

Discharge and effect of discharge

Payment

Tender of payment

Discharge by cancellation or renunciation

Short title

Applicability

Variation by agreement; measure of damages; action constituting ordinary care

Definitions and index of definitions

"Bank"; "depositary bank"; "payor bank"; "intermediary bank"; "collecting bank"; "presenting bank"

Payable through or payable at bank; collecting bank

Separate office of bank

Time of receipt of items

Delays

Electronic presentment

Prescription

Status of collecting bank as agent and provisional status of credits; applicability of Chapter; item indorsed "pay any bank"

Responsibility for collection or return; when action timely

Effect of instructions

Methods of sending and presenting; sending directly to payor bank

Depositary bank holder of unindorsed item

Transfer between banks

Transfer warranties

Presentment warranties

Encoding and retention warranties

Security interest of collecting bank in items, accompanying documents and proceeds

When bank gives value for purposes of holder in due course

Presentment by notice of item not payable by, through, or at a bank; liability of drawer or indorser

Medium and time of settlement by bank

Right of charge-back or refund; liability of collecting bank; return of item

Final payment of item by payor bank; when provisional debits and credits become final; when certain credits become available for withdrawal

Insolvency and preference

Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payor bank

Payor bank's responsibility for late return of item

When items subject to notice, stop-payment order, legal process, or setoff; order in which items may be charged or certified

When bank may charge customer's account

Bank's liability to customer for wrongful dishonor; time of determining insufficiency of account

Customer's right to stop payment; burden of proof of loss

Bank not obliged to pay check more than six months old

Death or interdiction of customer

Customer's duty to discover and report unauthorized signature or alteration

Payor bank's right to subrogation on improper payment

Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor

Presentment of "on arrival" drafts

Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need

Privilege of presenting bank to deal with goods; security interest for expenses

Short Title

Subject Matter

Payment Order - Definitions

Funds Transfer - Definitions

Other definitions

Time payment order is received

Federal reserve regulations and operating circulars

Relationship to the federal Electronic Fund Transfer Act

Security procedure

Authorized and verified payment orders

Unenforceability of certain verified payment orders

Refund of payment and duty of customer to report with respect to unauthorized payment order

Erroneous payment orders

Transmission of payment order through funds-transfer or other communication

Misdescription of beneficiary

Misdescription of intermediary bank or beneficiary's bank

Acceptance of payment order

Rejection of payment order

Cancellation and amendment of payment order

Liability and duty of receiving bank regarding unaccepted payment order

Execution and execution date

Obligations of receiving bank in execution of payment order

Erroneous execution of payment order

Duty of sender to report erroneously executed payment order

Liability for late or improper execution or failure to execute payment order

Payment date

Obligation of sender to pay receiving bank

Payment by sender to receiving bank

Obligation of beneficiary's bank to pay and give notice to beneficiary

Payment by beneficiary's bank to beneficiary

Payment by originator to beneficiary; discharge of underlying obligation

Variation by agreement and effect of funds-transfer system rule

Creditor process served on receiving bank; setoff by beneficiary's bank

Injunction or restraining order with respect to funds transfer

Order in which items and payment orders may be charged to account; order of withdrawals from account

Preclusion of objection to debit of customer's account

Rate of interest

Choice of law

Short title

Definitions

Scope

Formal requirements

Consideration

Issuance, amendment, cancellation, and duration

Confirmor, nominated person, and adviser

Issuer's rights and obligations

Fraud and forgery

Warranties

Remedies

Transfer of letter of credit

Transfer by operation of law

Assignment of proceeds

Statute of limitations

Choice of law and forum

Subrogation of issuer, applicant, and nominated person

Security interest of issuer or nominated person

Short title

Definitions and index of definitions

Relation of Chapter to treaty or statute

Negotiable and nonnegotiable document of title

Reissuance in alternative medium

Control of electronic document of title

Person that may issue a warehouse receipt; storage under bond

Form of warehouse receipt; effect of omission

Liability for nonreceipt or misdescription

Duty of care; contractual limitation of warehouse's liability

Title under warehouse receipt defeated in certain cases

Termination of storage at warehouse's option

Goods must be kept separate; fungible goods

Altered warehouse receipts

Lien of warehouse

Enforcement of warehouse's lien

Liability for nonreceipt or misdirection; "said to contain"; "shipper's weight, load, and count"; improper handling

Through bills of lading and similar documents of title

Diversion; reconsignment; change of instructions

Tangible bills of lading in a set

Destination bills

Altered bills of lading

Lien of carrier

Enforcement of carrier's lien

Duty of care; contractual limitation of carrier's liability

Irregularities in issue of receipt or bill or conduct of issuer

Duplicate document of title; overissue

Obligation of bailee to deliver; excuse

No liability for good faith delivery pursuant to document of title

Form of negotiation and requirements of "due negotiation"

Rights acquired by due negotiation

Document of title to goods defeated in certain cases

Rights acquired in absence of due negotiation; effect of diversion; stoppage of delivery

Endorser not a guarantor for other parties

Delivery without endorsements; right to compel endorsement

Warranties on negotiation or delivery of document of title

Warranties of collecting bank as to documents of title

Adequate compliance with commercial contract

Lost, stolen, or destroyed documents of title

Judicial process against goods covered by negotiable document of title

Conflicting claims; concursus

Fraud through the use of a document of title

Short title

Definitions

Rules for determining whether certain obligations and interests are securities or financial assets

Acquisition of security or financial asset or interest therein

Notice of adverse claim

Control

Whether indorsement, instruction, or entitlement order is effective

Warranties in direct holding

Warranties in indirect holding

Applicability; choice of law

Clearing corporation rules

Creditor's legal process

Statute of frauds inapplicable

Evidentiary rules concerning certificated securities

Securities intermediary and others not liable to adverse claimant

Securities intermediary as purchaser for value

Issuer

Issuer's responsibility and defenses; notice of defect or defense

Staleness as notice of defect or defense

Effect of issuer's restriction on transfer

Effect of unauthorized signature on security certificate

Completion or alteration of security certificate

Rights and duties of issuer with respect to registered owners

Effect of signature of authenticating trustee, registrar, or transfer agent

Issuer's lien

Overissue

Delivery

Rights of purchaser

Protected purchaser

Indorsement

Instruction

Effect of guaranteeing signature, indorsement, or instruction

Purchaser's right to requisites for registration of transfer

Duty of issuer to register transfer

Assurance that indorsement or instruction is effective

Demand that issuer not register transfer

Wrongful registration

Replacement of lost, destroyed, or wrongfully taken security certificate

Obligation to notify issuer of lost, destroyed, or wrongfully taken security certificate

Authenticating trustee, transfer agent, and registrar

Securities account; acquisition of security entitlement from securities intermediary

Assertion of adverse claim against entitlement holder

Property interest of entitlement holder in financial asset held by securities intermediary

Duty of securities intermediary to maintain financial asset

Duty of securities intermediary with respect to payments and distributions

Duty of securities intermediary to exercise rights as directed by entitlement holder

Duty of securities intermediary to comply with entitlement order

Duty of securities intermediary to change entitlement holder's position to other form of security holding

Specification of duties of securities intermediary by other statute or regulation; manner of performance of duties of securities intermediary and exercise of rights of entitlement holder

Rights of purchaser of security entitlement from entitlement holder

Priority among security interests and entitlement holders

Short title

Definitions and index of definitions

Purchase-money security interest; application of payments; burden of establishing purchase-money security interest

Control of deposit account

Control of electronic chattel paper

Control of investment property

Control of letter-of-credit right

Section
9-107.1

Control over life insurance policy

Section
9-107.2

Control conditioned on default

Sufficiency of description

Scope

General effectiveness of security agreement

Title to collateral immaterial

Attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites

After-acquired property; future advances

Use or disposition of collateral permissible

Security interest arising in purchase or delivery of financial asset

Rights and duties of secured party having possession or control of collateral

Additional duties of secured party having control of collateral

Duties of secured party if account debtor has been notified of assignment

Request for accounting; request regarding list of collateral or statement of account

Repealed by Acts 2006, 1st Ex. Sess., No. 14, §2, eff. Feb. 23, 2006, and Acts 2006, 1st Ex. Sess., No. 21, §2, eff. April 1, 2006.

Law governing perfection and priority of security interests

Law governing perfection and priority of agricultural liens

Law governing perfection and priority of security interests in goods covered by a certificate of title

Law governing perfection and priority of security interests in deposit accounts

Law governing perfection and priority of security interests in investment property

Law governing perfection and priority of security interests in letter-of-credit rights

Location of debtor

When security interest or agricultural lien is perfected; continuity of perfection

Security interest perfected upon attachment

When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply

Perfection of security interests in property subject to certain statutes, regulations, and treaties

Perfection of security interests in chattel paper, deposit accounts, documents, goods covered documents, instruments, investment property, letter-of-credit rights, money, life insurance policies, and collateral mortgage notes; perfection by permissive filing; temporary perfection without filing or transfer of possession

When possession by or delivery to secured party perfects security interest without filing

Perfection by control

Secured party's rights on disposition of collateral and in proceeds

Continued perfection of security interest following change in governing law

Interests that take priority over or take free of security interest or agricultural lien

No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers

Rights and title of consignee with respect to creditors and purchasers

Buyer of goods

Licensee of general intangible and lessee of goods in ordinary course of business

Priorities among conflicting security interests in and agricultural liens on same collateral

Future advances

Priority of purchase-money security interests

Priority of security interests in transferred collateral

Priority of security interests created by new debtor

Priority of security interests in deposit account

Priority of security interests in investment property

Priority of security interests in letter-of-credit right

Section
9-329.1

Priority of security interest in a life insurance policy

Priority of purchase of chattel paper or instrument

Priority of rights of purchasers of instruments, documents, and securities under other Chapters; priority of interests in financial assets and security entitlements under Chapter 8

Transfer of money; transfer of funds from deposit account

Priority of certain liens arising by operation of law

Priority of security interests in fixtures and crops

Accessions

Commingled goods

Priority of security interests in goods covered by certificate of title

Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information

Priority subject to subordination

Effectiveness of right of compensation, recoupment, or set-off against deposit account

Bank's rights and duties with respect to deposit account

Bank's right to refuse to enter into or disclose existence of control agreement

Control agreement not automatic subordination

Life insurance companies

Alienability of debtor's rights

Secured party not obligated on contract of debtor or in tort

Agreement not to assert defenses against assignee

Rights acquired by assignee; claims and defenses against assignee

Modification of assigned contract

Discharge of account debtor; notification of assignment; identification and proof of assignment; restrictions on assignment of accounts, chattel paper, payment intangibles, and promissory notes ineffective

Restrictions on creation or enforcement of security interest in leasehold interest or in lessor's residual interest

Restrictions on assignment of promissory notes, health-care-insurance receivables, and certain general intangibles ineffective

Restrictions on assignment of letter-of-credit rights ineffective

Relation to the Louisiana Trust Code

Judgments and litigious rights

Discharge of tortfeasor; notification and filing of assignment

Filing office

Contents of financing statement; time of filing financing statement

Name of debtor and secured party

Indication of collateral

Filing and compliance with other statutes and treaties for consignments, leases, other bailments, and other transactions

Effect of errors or omissions

Effect of certain events on effectiveness of financing statement

Effectiveness of financing statement if new debtor becomes bound by security agreement

Persons entitled to file a record

Effectiveness of filed record

Secured party of record

Amendment of financing statement

Termination statement

Assignment of powers of secured party of record

Section
9-514.1

Master assignments and master amendments

Duration and effectiveness of financing statement; effect of lapsed financing statement

What constitutes filing; effectiveness of filing

Effect of indexing errors

Claim concerning inaccurate or wrongfully filed record

Numbering, maintaining, and indexing records; communicating information provided in records

Acceptance and refusal to accept record

Uniform form of written financing statement and amendment

Maintenance and destruction of records

Information from filing office; sale or license of records

Delay by filing office

Fees

Filing-office rules

Notification by filing office of cyber incidents

Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes

Waiver and variance of rights and duties

Agreement on standards concerning rights and duties

Procedure if security agreement covers real property or fixtures

Unknown debtor or secondary obligor

Time of default for agricultural lien

Collection and enforcement by secured party

Application of proceeds of collection or enforcement; liability for deficiency and right to surplus

Secured party's right to take possession after default

Disposition of collateral after default

Notification before disposition of collateral

Timeliness of notification before disposition of collateral

Contents and form of notification before disposition of collateral: general

Contents and form of notification before disposition of collateral: consumer-goods transaction

Application of proceeds of disposition; liability for deficiency and right to surplus

Explanation of calculation of surplus or deficiency

Rights of transferee of collateral

Rights and duties of certain secondary obligors

Transfer of record or legal title

Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral

Notification of proposal to accept collateral

Effect of acceptance of collateral

Right to redeem collateral

Waiver

Remedies for secured party's failure to comply with Chapter

Action in which deficiency or surplus is in issue

Determination of whether conduct was commercially reasonable

Nonliability and limitation on liability of secured party; liability of secondary obligor

Judicial proceedings; authentic evidence

Effective date

Savings clause

Security interest perfected before July 1, 2001

Security interest unperfected before July 1, 2001

Effectiveness of action taken before July 1, 2001

When initial financing statement suffices to continue effectiveness of financing statement

Amendment of pre-effective date financing statement

Persons entitled to file initial financing statement or continuation statement

Priority

Definitions; filing under repealed laws

Definition of "Act"; effective date

Savings clause

Security interest perfected before effective date

Security interest unperfected before effective date

Effectiveness of action taken before effective date

When initial financing statement suffices to continue effectiveness of financing statement

Amendment of pre-effective-date financing statement

Person entitled to file initial financing statement or continuation statement

Priority