Louisiana Revised Statutes 9:3310.1 – Constructive delivery and possession in sale/lease-back situations
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Terms Used In Louisiana Revised Statutes 9:3310.1
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
When equipment is sold to, and is contemporaneously leased under a true or financed lease by the vendee/lessor back to the vendor/lessee, the filing of a financing statement as provided in La. Rev. Stat. 9:3342(B) suffices for the transfer of ownership of the equipment as against third persons.
Acts 1989, No. 137, §4, eff. Sept. 1, 1989.