Louisiana Revised Statutes 42:187 – Bond operates as mortgage except when signed by surety company
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Terms Used In Louisiana Revised Statutes 42:187
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Public officer: is a ny person holding a public office in this state. See Louisiana Revised Statutes 42:1
The bonds, when duly registered, shall operate from and after the date of the registry as a mortgage upon all of the real estate of the principal obligor.
This does not apply to bonds signed by surety companies which shall be recorded only in the parish where the public officer resides and, shall not operate as a mortgage on any property which may be owned by the public officer.