HLS 12RS-1077 ORIGINAL
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
Regular Session, 2012
HOUSE BILL NO. 535
BY REPRESENTATIVE JAY MORRIS
CIVIL/OBLIGATIONS: Provides relative to obligations secured by mortgages or privileges
AN ACT1
To amend and reenact R.S. 9:4422(introductory paragraph) and (3), relative to obligations2
secured by mortgages or privileges; to provide with the respect to promissory notes;3
and to provide for related matters.4
Be it enacted by the Legislature of Louisiana:5
Section 1. R.S. 9:4422(introductory paragraph) and (3) are hereby amended and6
reenacted to read as follows: 7
ยง4422. Obligations secured by mortgages or privileges; signatures and writings8
deemed authentic for purposes of foreclosure 9
The following shall apply when foreclosure by executory process is instituted10
by the transferee, assignee, or pledgee of any promissory note, whether negotiable11
or not, and any negotiable instrument, or instrument that would be negotiable but for12
a limitation of personal liability of the maker or any comaker secured by a mortgage13
or privilege: 14
* * *15
(3) The holder of any promissory note, whether negotiable or not, and any16
negotiable instrument or instrument that would be negotiable but for a limitation of17
personal liability to the maker or any comaker under this Section may enforce the18
mortgage or privilege securing such instrument without authentic evidence of the19
signatures, assignment, pledge, negotiation, or transfer thereof.20 HLS 12RS-1077 ORIGINAL
HB NO. 535
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
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)]
Jay Morris HB No. 535
Abstract: Provides that certain provisions applicable to negotiable instruments or any
instrument that would be negotiable but for a limitation of personal liability of the
maker, shall also apply to promissory notes.
Present law provides procedures for foreclosure by executory process instituted by the
transferee, assignee, or pledge of a negotiable instrument or any instrument that would be
negotiable but for a limitation of personal liability of the maker. Provides a presumption that
certain signatures are genuine. Further provides that a transfer of an obligation secured by
a mortgage can be proven by a private writing. Provides for enforcement of a negotiable
instrument by the holder without authentic evidence of the transfer.
Proposed law retains present law and clarifies that present law applies to any promissory
note, whether negotiable or not, or any negotiable instrument.
(Amends R.S. 9:4422(intro. para.) and (3))