La. R.S. § 9:5304
This is the official text of La. R.S. § 9:5304, part of Louisiana’s R.S — part of the compiled statutory law of Louisiana, published by the state as "R.S." Browse the sections below, each linked to its official government source.
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Tit. 9, § 5304. Enforcement of mortgage; limitations
Official statutory text
In case of default, the mortgage may be enforced by seizure and sale or otherwise, as the fiduciary shall deem expedient for the protection of the debt. However, the act of mortgage may provide that in the event of default, the fiduciary shall not be obliged to proceed to sell the property unless the holders of a designated portion of the obligations secured shall request the fiduciary to enforce the mortgage and agree to indemnify him against all costs and expenses incurred. The mortgagor may restrict the right of the fiduciary to foreclose or sell in the event of default.
Status: in_force
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