HLS 12RS-2321 ORIGINAL
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Regular Session, 2012
HOUSE CONCURRENT RESOLUTI ON NO. 93
BY REPRESENTATIVE BILLIOT
CIVIL/OBLIGATIONS: Requests the La. State Law Institute to study and make
recommendations relative to suretyship
A CONCURRENT RESOLUTI ON1
To urge and request the Louisiana State Law Institute to study creating procedures that2
would enable a surety to take possession of collateral in certain circumstances and3
to report its findings on or after January 1, 2014. 4
WHEREAS, many people obligate themselves as surety of debts for the purchase of5
movables; and6
WHEREAS, the purchased movables are the primary collateral of the debt incurred;7
and8
WHEREAS, if the principal obligor of the debt fails or refuses to make required9
payments, the surety is then required to make the payments in order to prevent default on the10
debt and seizure of the collateral; and11
WHEREAS, while the surety is making payments on the debt, he frequently does not12
have possession or control of the collateral; and13
WHEREAS, the principal obligor who has failed or refused to make payments retains14
possession and control of the movable and may cause damage to or destruction of the15
movable; and16
WHEREAS, it would be beneficial to the surety, in addition to his rights of17
subrogation and reimbursement, if he were able to take possession of the movable in order18
to protect his interest in the collateral before it is damaged or destroyed.19
THEREFORE, BE IT RESOLVED that the Legislature of Louisiana does hereby20
urge and request the Louisiana State Law Institute to study creating procedures that would21 HLS 12RS-2321 ORIGINAL
HCR NO. 93
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enable a surety to take possession of collateral in certain circumstances and to report its1
findings and recommendations in the form of specific proposed legislation to the Legislature2
of Louisiana on or before January 1, 2014.3
BE IT FURTHER RESOLVED that a suitable copy of this Resolution be transmitted4
to the director of the Louisiana State Law Institute.5
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)]
Billiot HCR No. 93
Requests the La. State Law Institute to study creating procedures that would enable a surety
to take possession of collateral in certain circumstances.