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2019 Louisiana Laws
Revised Statutes
Title 9 - Civil Code-Ancillaries
§5304. Enforcement of mortgage; limitations
Universal Citation:
LA Rev Stat § 9:5304 (2019)
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RS 5304 - Enforcement of mortgage; limitations
In case of default, the mortgage may be enforced by seizure and sale or otherwise, as the fiduciary shall deem expedient for the protection of the debt. However, the act of mortgage may provide that in the event of default, the fiduciary shall not be obliged to proceed to sell the property unless the holders of a designated portion of the obligations secured shall request the fiduciary to enforce the mortgage and agree to indemnify him against all costs and expenses incurred. The mortgagor may restrict the right of the fiduciary to foreclose or sell in the event of default.
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