Shadoin (HB 567) Act No. 182
Prior law provided 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.
Prior law provided 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 existing 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.
New law retains prior law but removes a federally insured certificate of deposit as an
acceptable form of security to be filed in certain civil matters.
Effective Aug. 1, 2014.
(Amends R.S. 9:4835(A) and (B))