There is a newer version of the Louisiana Laws
2009 Louisiana Civil Code :: CC 3220 - Privilege of pledgee.
§2--OF THE PRIVILEGE OF THE CREDITOR ON
THE THING PLEDGED
Art. 3220. Privilege of pledgee.
The creditor acquires the right of possessing and retaining the movable which he has received in pledge, as a security for his debt, and may cause it to be sold for the payment of the same.
Hence proceeds the privilege which he enjoys on the thing.
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