HLS 14RS-1221 ENGROSSED
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
Regular Session, 2014
HOUSE BILL NO. 567
BY REPRESENTATIVE SHADOIN
BONDS: Provides relative to filing of bond or other security in proceedings under the
Private Works Act
AN ACT1
To amend and reenact R.S. 9:4835(A) and (B), relative to the filing of security in certain2
civil proceedings under the Private Works Act; to provide for the form of security3
to be filed; and to provide for related matters.4
Be it enacted by the Legislature of Louisiana:5
Section 1. R.S. 9:4835(A) and (B) are hereby amended and reenacted to read as6
follows: 7
ยง4835. Filing of bond or other security; cancellation of statement of claim or8
privilege or notice of pendency of action9
A. If a statement of claim or privilege or a notice of pendency of action is10
filed, any interested party may deposit with the recorder of mortgages either a bond11
of a lawful surety company authorized to do business in the state, or cash, or certified12
funds, or a federally insured certificate of deposit to guarantee payment of the13
obligation secured by the privilege or that portion as may be lawfully due together14
with interest, costs, and attorney fees to which the claimant may be entitled up to a15
total amount of one hundred twenty-five percent of the principal amount of the claim16
as asserted in the statement of claim or privilege or such a suit. A surety shall not17
have the benefit of division or discussion.18
B. If the recorder of mortgages finds the amount of the cash, or certified19
funds, or certificate of deposit or the terms and amount of a bond deposited with him20 HLS 14RS-1221 ENGROSSED
HB NO. 567
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
to be in conformity with this Section, he shall note his approval on the bond and1
make note of either the bond or of the cash, or certified funds, or certificate of2
deposit in the margin of the statement of claim or privilege or notice of pendency of3
action as it is recorded in the mortgage records and cancel the statement of claim or4
privilege or the notice of pendency of action from his records by making an5
appropriate notation in the margin of the recorded statement or notice. The bond6
shall not be recorded but shall be retained by the recorder of mortgages as a part of7
his records.8
* * *9
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)]
Shadoin HB No. 567
Abstract: Removes a federally insured certificate of deposit as an acceptable form of
security to be filed in certain civil matters.
Present law provides that if a statement of claim or privilege or a notice of pendency of
action is filed, any interested party may deposit with the recorder of mortgages either a bond
of a lawful surety company authorized to do business in the state, cash, certified funds, or
a federally insured certificate of deposit to guarantee payment of the obligation secured by
the privilege.
Present law provides that if the recorder of mortgages finds the amount of the cash, certified
funds, or certificate of deposit or the terms and amount of a bond deposited with him to be
in conformity with present law, he shall note his approval on the bond and make note of
either the bond or of the cash, certified funds, or certificate of deposit in the margin of the
statement of claim or privilege or notice of pendency of action as it is recorded in the
mortgage records and cancel the statement of claim or privilege or the notice of pendency
of action from his records by making an appropriate notation in the margin of the recorded
statement or notice.
Proposed law retains present law but removes a federally insured certificate of deposit as an
acceptable form of security to be filed in certain civil matters.
(Amends R.S. 9:4835(A) and (B))