2006 Louisiana Laws - RS 6:966.1 — Notice of repossession; contents; fees

§966.1.  Notice of repossession; contents; fees

A.  Within three days of taking possession of collateral, a secured party who utilizes the additional default remedies provided by this Chapter to obtain possession of collateral shall file a "Notice of Repossession" with the recorder of mortgages in the parish where the collateral was located and with the appropriate official.  The "Notice of Repossession" shall contain the debtor's name, last known address, date of birth, and a description of the collateral repossessed.  For purposes of this Section, the appropriate official shall be:

(1)  The constable of the justice of the peace court, if the debtor's last known address is within the election district of the justice of the peace court and the outstanding balance is within the jurisdictional limits of the court.

(2)  The constable or marshal of the city court, if the debtor's last known address is within the geographic boundaries of the city court and the outstanding balance is within the jurisdictional limits of the court.

(3)  The sheriff for the parish of the debtor's last known address, if there is no other appropriate official as defined in this Subsection.

B.  The secured party shall pay seventy-five dollars to the recorder of mortgages and two hundred fifty dollars to the appropriate official for each "Notice of Repossession" filed.

C.  If the sheriff is the appropriate official in a parish having a population in excess of four hundred sixty-five thousand persons, as determined by the most recent federal decennial census, then there shall be no fee paid to the sheriff; however, the "Notice of Repossession" shall still be filed with the sheriff.

D.  The commissioner of financial institutions shall have the authority to promulgate rules and regulations in accordance with the Administrative Procedure Act to implement the provisions of this Chapter, including but not limited to establishing fees and assessments.

Acts 2004, No. 191, §1, eff. Jan. 1, 2005; Acts 2004, No. 814, §1, eff. Jan. 1, 2005.

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