Louisiana Revised Statutes 9:5529 – Ship mortgage book; form
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Terms Used In Louisiana Revised Statutes 9:5529
- Builder: means the person undertaking or contracting to build a ship pursuant to a contract or otherwise. See Louisiana Revised Statutes 9:5522
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
- Ship: means a tug, pushboat, pullboat, barge, dredge, or other vessel or watercraft of more than fifty tons gross weight to be constructed within the state of Louisiana. See Louisiana Revised Statutes 9:5522
For the purposes of this Chapter, it shall be sufficient for the recorders of mortgages each to keep a book to be known as the ship mortgage book, which shall be ruled off into columns, with the headings as follows:
Time of filing for Recordation; Name of Mortgagor; Name of Mortgagee; Date of Instrument; Amount secured; When Due; Hull number of Ship mortgaged; Builder; Remarks.
Added by Acts 1975, No. 368, §1.