Louisiana Civil Code 3157 – Privilege and preference of pledge creditor
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Terms Used In Louisiana Civil Code 3157
- Contract: A legal written agreement that becomes binding when signed.
The contract of pledge is indivisible, notwithstanding the divisibility of the secured obligations, and the pledgor may not demand return of all or part of the thing pledged until all secured obligations have been extinguished.
Acts 2014, No. 281, §1, eff. Jan. 1, 2015.