Louisiana Revised Statutes 9:5524 – Title to work; materials and components
Terms Used In Louisiana Revised Statutes 9:5524
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Builder: means the person undertaking or contracting to build a ship pursuant to a contract or otherwise. See Louisiana Revised Statutes 9:5522
- Components: means all parts and components of a ship which are fabricated by the builder for use in the construction of the ship, which will, when so used, form a part of the ship and the fabrication of which is commenced at the shipyard. See Louisiana Revised Statutes 9:5522
- Contract: A legal written agreement that becomes binding when signed.
- Contract: means a written agreement for the construction of a ship. See Louisiana Revised Statutes 9:5522
- Materials: means all materials (other than piping, cables, fittings, and other materials taken out of builder's stock), all items of machinery, and all items of equipment (other than equipment taken out of builder's stock) which are purchased or acquired for use in the construction of the ship, which will, when so used, form a part of the ship and which have been delivered to the shipyard. See Louisiana Revised Statutes 9:5522
- Person: includes an individual, corporation, trust, partnership, joint venture, or other organization. See Louisiana Revised Statutes 9:5522
- Purchaser: means the person for whom a ship is to be constructed pursuant to a contract. See Louisiana Revised Statutes 9:5522
- 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
- Shipyard: means the shipyard or place of business where a ship is to be constructed. See Louisiana Revised Statutes 9:5522
- Work: means in the case of a ship having a keel, the keel, and in the case of a ship not having a keel, the bottom plates, and all materials, machinery, equipment, components, and fabrications forming a part of the ship when permanently installed in place. See Louisiana Revised Statutes 9:5522
A. Whenever a contract provides that the purchaser shall be the owner of the ship to be constructed pursuant to the contract and title to the work shall vest in the purchaser as and when performed, the work shall be deemed to have been delivered to, and title to the work shall be vested in, the purchaser as and when performed, and title to the ship shall be vested in the purchaser upon completion thereof.
B. If the contract provides that the purchaser shall be the owner of the ship to be constructed pursuant to the contract and title to the work shall vest in the purchaser as and when performed, and provides that title to the materials shall vest in the purchaser as and when delivered to the shipyard, the materials shall be deemed to have been delivered to the purchaser and title thereto shall vest in the purchaser as and when delivered to the shipyard.
C. If the contract provides that the purchaser shall be the owner of the ship to be constructed pursuant to the contract and title to the work shall vest in the purchaser as and when performed, and provides that title to the components shall vest in the purchaser as and when fabricated, the components shall be deemed to have been delivered to the purchaser and title thereto shall vest in the purchaser as and when fabricated.
D. No other person shall acquire any rights in the work, materials, components, or completed ship, title to which is vested in the purchaser, by purchase from the builder and no such work, materials, components, or ship shall be liable to seizure and attachment in behalf of the creditors of the builder, but nothing contained in this Chapter shall affect any rights or privileges granted by law to sellers, laborers, and suppliers of materials in the construction of the ship or to the builder.
E. If a contract does not provide that the purchaser shall be the owner of the ship to be constructed pursuant to the contract or if there is no contract for the construction of the ship, the purchaser shall not acquire any title to the work or any materials or components or the completed ship prior to the completion of the ship and the delivery thereof to the purchaser, notwithstanding any agreement or arrangement to the contrary.
Added by Acts 1975, No. 368, §1.