§ Art. 3228 Loans to succession representative for specific purposes; authority to encumber succession property as security therefor

Codes > Louisiana Code of Civil Procedure > Book I > Title III : Chapter 4 > Section 3 : Art. 3228

Art. 3228. Loans to succession representative for specific purposes; authority to encumber succession property as security therefor

    When it appears to the best interest of the succession, and after compliance with Article 3229, the court may authorize a succession representative to borrow money for the purposes of preserving the property or the orderly administration of the estate, of paying estate debts, and for expenditures in the regular course of business conducted in accordance with Article 3224. As security for the loans the court may authorize the succession representative to encumber succession property upon the terms and conditions as it may direct.