HLS 11RS-625 ENGROSSED
Page 1 of 2
CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
Regular Session, 2011
HOUSE BILL NO. 445
BY REPRESENTATIVES CHANEY AND LOPINTO
Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana.
MTR VEHICLE/SALES FIN: Provides relative to notices of repossession
AN ACT1
To enact R.S. 6:966.1(E), relative to notices of repossession; to dispense with notice2
requirements for certain parties involved in secured transactions; and to provide for3
related matters.4
Be it enacted by the Legislature of Louisiana:5
Section 1. R.S. 6:966.1(E) is hereby enacted to read as follows:6
ยง966.1. Notice of repossession; contents; fees7
* * *8
E. Notwithstanding any law or regulation to the contrary, a repossession9
agent shall not be required to obtain, and a secured party shall not be required to10
provide to a repossession agent, a copy of the notice required to be sent to a debtor11
by R.S. 6:966(A)(2).12
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
Chaney HB No. 445
Abstract: Dispenses with any requirement that a repossession agent obtain, or a secured
party furnish to the agent, a copy of any notice indicating the right to take possession
of collateral.
Present law provides for additional remedies of default by the debtor under a secured
transaction. HLS 11RS-625 ENGROSSED
HB NO. 445
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
Present law (R.S. 6:966(A)(2)) requires that before a secured party avails himself of the
remedies offered in present law, the secured party must send notice to all debtors, in writing
at the last known address of the debtors, of the right of the secured party to take possession
of the collateral without further notice.
Proposed law provides that a repossession agent is not required to obtain, nor is a secured
party required to provide to the agent, a copy of the notice that is required in present law.
(Adds R.S. 6:966.1(E))