Title 10, Commercial Laws
0 chapters · 458 sections in this title.
La. Rev. Stat. § 10:1-101 Short titles
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§1-101. Short titles (a) This Title may be cited as the Uniform Commercial Code. (b) This Chapter may be cited as Uniform Commercial Code--General Provisions. Added by Acts 1974, No. 92, §1, eff. Jan. 1, 1975; Acts 2006, No. 533, §1.
La. Rev. Stat. § 10:1-102 Scope of Chapter
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§1-102. Scope of Chapter This Chapter applies to a transaction to the extent that it is governed by another Chapter of this Title. Added by Acts 1974, No. 92, §1, eff. Jan. 1, 1975 ; Acts 2006, No. 533, §1.
La. Rev. Stat. § 10:1-103 Construction of Uniform Commercial Code to promote its purposes and policies; applicability of supplemental principles of law
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§1-103. Construction of Uniform Commercial Code to promote its purposes and policies; applicability of supplemental principles of law (a) This Title shall be liberally construed and applied to promote its underlying purposes and policies, which are: (1) to simplify, clarify, and …
La. Rev. Stat. § 10:1-104 Construction against implied repeal
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§1-104. Construction against implied repeal This Title being a general law intended as a unified coverage of its subject matter, no part of it shall be deemed to be impliedly repealed by subsequent legislation if such construction can reasonably be avoided. Added by Acts 1974, No…
La. Rev. Stat. § 10:1-105 [Reserved.]
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§1-105. [Reserved.]
La. Rev. Stat. § 10:1-106 [Reserved.]
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§1-106. [Reserved.]
La. Rev. Stat. § 10:1-107 [Reserved.]
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§1-107. [Reserved.]
La. Rev. Stat. § 10:1-108 Relation to Electronic Signatures in Global and National Commerce Act
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§1-108. Relation to Electronic Signatures in Global and National Commerce Act This Chapter modifies, limits, and supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001 et seq., except that nothing in this Chapter modifies, limits,…
La. Rev. Stat. § 10:1-201 General definitions
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§1-201. General definitions (a) Unless the context otherwise requires, words or phrases defined in this Section, or in the additional definitions contained in other Chapters of this Title that apply to particular Chapters or Parts thereof, have the meanings stated. (b) Subject to…
La. Rev. Stat. § 10:1-202 Notice; knowledge
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§1-202. Notice; knowledge (a) Subject to Subsection (f), a person has "notice" of a fact if the person: (1) has actual knowledge of it; (2) has received a notice or notification of it; or (3) from all the facts and circumstances known to the person at the time in question, has re…
La. Rev. Stat. § 10:1-203 Lease distinguished from security interest
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§1-203. Lease distinguished from security interest (a) Whether a transaction in the form of a lease creates a lease or security interest is determined by the facts of each case. (b) A transaction in the form of a lease creates a security interest if the consideration that the les…
La. Rev. Stat. § 10:1-204 Value
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§1-204. Value Except as otherwise provided in Chapters 3, 4, 5, and 12 of this Title, a person gives value for rights if the person acquires them: (1) in return for a binding commitment to extend credit or for the extension of immediately available credit, whether or not drawn up…
La. Rev. Stat. § 10:1-205 Reasonable time; seasonableness
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§1-205. Reasonable time; seasonableness (a) Whether a time for taking an action required by this Title is reasonable depends on the nature, purpose, and circumstances of the action. (b) An action is taken seasonably if it is taken at or within the time agreed or, if no time is ag…
La. Rev. Stat. § 10:1-206 Presumptions
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§1-206. Presumptions Whenever this Title creates a "presumption" with respect to a fact, or provides that a fact is "presumed," the trier of fact must find the existence of the fact unless and until evidence is introduced that supports a finding of its nonexistence. Acts 2006, No…
La. Rev. Stat. § 10:1-301 Territorial applicability; parties' power to choose applicable law
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§1-301. Territorial applicability; parties' power to choose applicable law (a) [Reserved] (b) This section applies to a transaction to the extent that it is governed by another Chapter of this Title. (c) Except as otherwise provided in this Section: (1) [Reserved.] (2) The effect…
La. Rev. Stat. § 10:1-302 Variation by agreement
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§1-302. Variation by agreement (a) Except as otherwise provided in Subsection (b) or elsewhere in this Title, the effect of provisions of this Title may be varied by agreement. (b) The obligations of good faith, diligence, reasonableness, and care prescribed by this Title may not…
La. Rev. Stat. § 10:1-303 Course of performance, course of dealing, and usage of trade
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§1-303. Course of performance, course of dealing, and usage of trade (a) A "course of performance" is a sequence of conduct between the parties to a particular transaction that exists if: (1) the agreement of the parties with respect to the transaction involves repeated occasions…
La. Rev. Stat. § 10:1-304 Obligation of good faith
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§1-304. Obligation of good faith Every contract or duty within this Title imposes an obligation of good faith in its performance and enforcement. Under this Section, "good faith" has the meaning with which that term is used in the title on "Conventional Obligations or Contracts" …
La. Rev. Stat. § 10:1-305 Remedies to be liberally administered
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§1-305. Remedies to be liberally administered (a) The remedies provided by this Title shall be liberally administered to the end that the aggrieved party may be put in as good a position as if the other party had fully performed. (b) [Reserved.] Acts 2006, No. 533, §1.
La. Rev. Stat. § 10:1-306 [Reserved.]
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§1-306. [Reserved.]
La. Rev. Stat. § 10:1-307 Prima facie evidence by third-party documents
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§1-307. Prima facie evidence by third-party documents A document in due form purporting to be a bill of lading, policy or certificate of insurance, official weigher's or inspector's certificate, consular invoice, or any other document authorized or required by a contract to be is…
La. Rev. Stat. § 10:1-308 Performance or acceptance under reservation of rights
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§1-308. Performance or acceptance under reservation of rights (a) A party that with explicit reservation of rights performs or promises performance or assents to performance in a manner demanded or offered by the other party does not thereby prejudice the rights reserved. Such wo…
La. Rev. Stat. § 10:1-309 Option to accelerate at will
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§1-309. Option to accelerate at will A term providing that one party or that party's successor in interest may accelerate payment or performance or require collateral or additional collateral "at will" or "when the party deems itself insecure" or words of similar import, means th…
La. Rev. Stat. § 10:1-310 Subordinated obligations
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§1-310. Subordinated obligations An obligation may be issued as subordinated to performance of another obligation of the person obligated, or a creditor may subordinate its right to performance of an obligation by agreement with either the person obligated or another creditor of …
La. Rev. Stat. § 10:12-101 Title
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§12-101. Title This Chapter may be cited as Uniform Commercial Code—Controllable Electronic Records. Acts 2024, No. 773, §1.
La. Rev. Stat. § 10:12-102 Definitions
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§12-102. Definitions (a) Chapter 12 definitions. In this Chapter: (1) "Controllable electronic record" means a record stored in an electronic medium that can be subjected to control under R.S. 10:12-105. The term does not include a controllable account, a controllable payment int…
La. Rev. Stat. § 10:12-103 Relation to Chapter 9 and consumer laws
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§12-103. Relation to Chapter 9 and consumer laws (a) Chapter 9 governs in case of conflict. If there is conflict between this Chapter and Chapter 9 of this Title, Chapter 9 governs. (b) Applicable consumer law and other laws. A transaction subject to this Chapter is subject to an…
La. Rev. Stat. § 10:12-104 Rights in controllable account, controllable electronic record, and controllable
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§12-104. Rights in controllable account, controllable electronic record, and controllable payment intangible (a) Applicability of Section to controllable account and controllable payment intangible. This Section applies to the acquisition and purchase of rights in a controllable …
La. Rev. Stat. § 10:12-105 Control of controllable electronic record
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§12-105. Control of controllable electronic record (a) General rule: control of controllable electronic record. A person has control of a controllable electronic record if the electronic record, a record attached to or logically associated with the electronic record, or a system …
La. Rev. Stat. § 10:12-106 Discharge of account debtor on controllable account or controllable payment
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§12-106. Discharge of account debtor on controllable account or controllable payment intangible (a) Discharge of account debtor. An account debtor on a controllable account or controllable payment intangible may discharge its obligation by paying: (1) the person having control of…
La. Rev. Stat. § 10:12-107 Governing law
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§12-107. Governing law (a) Governing law: general rule. Except as provided in Subsection (b) of this Section, the local law of a controllable electronic record's jurisdiction governs a matter covered by this Chapter. (b) Governing law: R.S. 10:12-106. For a controllable electroni…
La. Rev. Stat. § 10:13-101 Title
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§13-101. Title This Chapter may be cited as "Transitional Provisions for Uniform Commercial Code Amendments". Acts 2024, No. 773, §1.
La. Rev. Stat. § 10:13-102 Definitions
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§13-102. Definitions (a) Chapter 13 Definitions. In this Chapter: (1) "Adjustment date" means August 1, 2025. (2) "Chapter 12" means Chapter 12 of this Title. (3) "Chapter 12 property" means a controllable account, controllable electronic record, or controllable payment intangibl…
La. Rev. Stat. § 10:13-201 Saving clause
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§13-201. Saving clause Except as provided in Part 3 of this Chapter, a transaction validly entered into before August 1, 2024, and the rights, duties, and interests flowing from the transaction remain valid thereafter and may be terminated, completed, consummated, or enforced as …
La. Rev. Stat. § 10:13-301 Saving clause
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§13-301. Saving clause (a) Pre-effective-date transaction, lien, or interest. Except as provided in this Part, Chapter 9 of this Title as amended by this Act and Chapter 12 of this Title apply to a transaction, lien, or other interest in property, even if the transaction, lien, o…
La. Rev. Stat. § 10:13-302 Security interest perfected before effective date
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§13-302. Security interest perfected before effective date (a) Continuing perfection: perfection requirements satisfied. A security interest that is enforceable and perfected immediately before August 1, 2024, is a perfected security interest under this Act if, on August 1, 2024,…
La. Rev. Stat. § 10:13-303 Security interest unperfected before effective date
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§13-303. Security interest unperfected before effective date A security interest that is enforceable immediately before August 1, 2024, but is unperfected at that time: (1) remains an enforceable security interest until the adjustment date; (2) remains enforceable thereafter if t…
La. Rev. Stat. § 10:13-304 Effectiveness of actions taken before effective date
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§13-304. Effectiveness of actions taken before effective date (a) Pre-effective-date action; attachment and perfection before adjustment date. If action, other than the filing of a financing statement, is taken before August 1, 2024, and the action would have resulted in perfecti…
La. Rev. Stat. § 10:13-305 Priority
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§13-305. Priority (a) Determination of priority. Subject to Subsections (b) and (c) of this Section, this Act determines the priority of conflicting claims to collateral. (b) Established priorities. Subject to Subsection (c) of this Section, if the priorities of claims to collate…
La. Rev. Stat. § 10:13-306 Priority of claims when priority rules of Chapter 9 do not apply
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§13-306. Priority of claims when priority rules of Chapter 9 do not apply (a) Determination of priority. Subject to Subsections (b) and (c) of this Section, Chapter 12 of this Title determines the priority of conflicting claims to Chapter 12 property when the priority rules of Ch…
La. Rev. Stat. § 10:3-101 Short title
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§3-101. Short title This Chapter may be cited as Uniform Commercial Code -- Negotiable Instruments. Acts 1992, No. 1133, §3, eff. July 1, 1993; Acts 1993, No. 948, §10, eff. Jan. 1, 1994; Acts 2006, No. 533, §3.
La. Rev. Stat. § 10:3-102 Subject matter
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§3-102. Subject matter (a) This Chapter applies to negotiable instruments. It does not apply to money, to payment orders governed by Chapter 4A, or to securities governed by Chapter 8. (b) If there is conflict between this Chapter and Chapter 4 or 9, Chapters 4 and 9 govern. (c) …
La. Rev. Stat. § 10:3-103 Definitions
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§3-103. Definitions (a) In this Chapter: (1) "Acceptor" means a drawee who has accepted a draft. (2) "Drawee" means a person ordered in a draft to make payment. (3) "Drawer" means a person who signs or is identified in a draft as a person ordering payment. (4) (Reserved) (5) "Mak…
La. Rev. Stat. § 10:3-104 Negotiable instrument
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§3-104. Negotiable instrument (a) Except as provided in Subsections (c) and (d) of this Section, "negotiable instrument" means an unconditional promise or order to pay a fixed amount of money, with or without interest or other charges described in the promise or order, if it: (1)…
La. Rev. Stat. § 10:3-105 Issue of instrument
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§3-105. Issue of instrument (a) "Issue" means: (1) the first delivery of an instrument by the maker or drawer, whether to a holder or nonholder, for the purpose of giving rights on the instrument to any person; or (2) if agreed by the payee, the first transmission by the drawer t…
La. Rev. Stat. § 10:3-106 Unconditional promise or order
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§3-106. Unconditional promise or order (a) Except as provided in this Section, for the purposes of R.S. 10:3-104(a), a promise or order is unconditional unless it states (i) an express condition to payment, (ii) that the promise or order is subject to or governed by another writi…
La. Rev. Stat. § 10:3-107 Instrument payable in foreign money
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§3-107. Instrument payable in foreign money Unless the instrument otherwise provides, an instrument that states the amount payable in foreign money may be paid in the foreign money or in an equivalent amount in dollars calculated by using the current bank-offered spot rate at the…
La. Rev. Stat. § 10:3-108 Payable on demand or at definite time
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§3-108. Payable on demand or at definite time (a) A promise or order is "payable on demand" if it (i) states that it is payable on demand or at sight, or otherwise indicates that it is payable at the will of the holder, or (ii) does not state any time of payment. (b) A promise or…
La. Rev. Stat. § 10:3-109 Payable to bearer or to order
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§3-109. Payable to bearer or to order (a) A promise or order is payable to bearer if it: (1) states that it is payable to bearer or to the order of bearer or otherwise indicates that the person in possession of the promise or order is entitled to payment; (2) does not state a pay…
La. Rev. Stat. § 10:3-110 Identification of person to whom instrument is payable
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§3-110. Identification of person to whom instrument is payable (a) The person to whom an instrument is initially payable is determined by the intent of the person, whether or not authorized, signing as, or in the name or behalf of, the issuer of the instrument. The instrument is …