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2020 Louisiana Laws
Civil Code
Art. 3137. Personal or real security
Universal Citation: LA Civ Code art. 3137 (2020)
Security is personal or real.
It is personal when it consists of an obligation undertaken to secure performance of the obligation of another.
It is real when it consists of a right of preference established over property of the obligor or of a third person to secure performance of an obligation.
Acts 2014, No. 281, §1, eff. Jan. 1, 2015.
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