§ Art. 2771 When deficiency judgment obtainable

Codes > Louisiana Code of Civil Procedure > Book I > Title II : Chapter 6 > Art. 2771

Art. 2771. When deficiency judgment obtainable

    Unless otherwise provided by law, the creditor may obtain a judgment against the debtor for any deficiency due on the debt after the distribution of the proceeds of the judicial sale only if the property has been sold under the executory proceeding after appraisal in accordance with the provisions of Article 2723.

    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: 

    “Section 20. 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limitation the various statutes and code articles amended and reenacted under this Act, not be expressly or impliedly repealed by Chapter 9 of the Louisiana Commercial Laws, but that such laws remain in effect and be applied to preexisting secured transactions and, at times when so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.”