§ Art. 2292 Privilege of creditor on seized property; successive seizures

Codes > Louisiana Code of Civil Procedure > Book I > Title II : Chapter 1 > Art. 2292

Art. 2292. Privilege of creditor on seized property; successive seizures

    A. To the extent not otherwise governed under Chapter 9 of the Louisiana Commercial Laws (R.S. 10:9-101, et seq.), a seizing creditor, by the mere act of seizure, acquires a privilege on the property seized, which entitles him to a preference over ordinary creditors.

    B. When several seizures of the same property are made by ordinary creditors, the seizing creditors acquire a privilege and are entitled to a preference among themselves according to the order of their seizures.

    LEGISLATIVE INTENT--ACTS 1989, NO. 137

     Acts 1989, No. 137, § 18 of which amended this article, affected numerous articles of the Civil Code and the Code of Civil Procedure and sections of various Titles of the Revised Statutes. Section 20 of Act 137 provides:

     “It is the intent of the Legislature in enacting this Act to amend the preexisting Louisiana security device laws to
accompany and accommodate implementation of Chapter 9 of the Louisiana Commercial Laws (R.S. 10:9-101, et seq.) as previously enacted under Act 528 of 1988. It is further the intent of the legislature that these preexisting Louisiana laws, including without limitation the various statutes and code articles amended and reenacted under this Act, not be expressly or impliedly repealed by Chapter 9 of the Louisiana Commercial Laws, but that such laws remain in effect and be applied to
preexisting secured transactions and, at times when so provided, be applied to secured transactions subject to Chapter 9 of the Louisiana Commercial Laws.”