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2018 Louisiana Laws
Revised Statutes
TITLE 9 - Civil Code-Ancillaries
RS 9:5302 - Fiduciary as mortgagee in trust for creditors
Universal Citation: LA Rev Stat § 9:5302 (2018)
§5302. Fiduciary as mortgagee in trust for creditors
A fiduciary for the holders of the obligations secured by the mortgage may be named in the act as mortgagee in trust for the benefit of the creditors. He shall be irrevocably appointed special attorney-in-fact for the holders of the obligations and vested with full power in their behalf to effect and enforce the mortgage for their benefit.
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