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Regular Session, 2014
SENATE BILL NO. 530
BY SENATOR BROOME
PARISHES. Requires parishes to establish and maintain a registry of foreclosed properties.
(gov sig)
AN ACT1
To enact Part IX of Chapter 14 of Title 33 of the Louisiana Revised Statutes of 1950, to be2
comprised of R.S. 33:5011 through 5016, relative to foreclosure registry program;3
to provide for certain information relative to foreclosed property; to provide for4
definitions; to provide for enforcement; to provide for penalties; to provide for an5
effective date; and to provide for related matters.6
Be it enacted by the Legislature of Louisiana:7
Section 1. Part IX of Chapter 14 of Title 33 of the Louisiana Revised Statutes of8
1950, to be comprised of R.S. 33:5011 through 5016, is hereby enacted to read as follows:9
PART IX. PROPERTY FORECLOSURE REGISTRY PROGRAM10
§5011. Short title11
This Part shall be known as the Foreclosure Registry Program.12
§5012. Legislative findings and declaration13
It is the intent of the legislature for parishes to establish and maintain a14
foreclosure registry program. The purpose of this program is to provide a15
uniform and equitable procedure regarding foreclosed properties, with due16
regard to protect neighborhoods from becoming blighted through the lack of17 SB NO. 530
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adequate maintenance and security as a result of foreclosures.1
§5013. Definitions2
For the purposes of this Part, the following terms shall have the following3
meanings unless the context clearly indicates otherwise:4
(1) "Foreclosed Property" means a property that was placed as security5
for a real estate loan that is to be sold at a sheriff's sale to satisfy the debt if the6
borrower defaults.7
(2) "Property" means any unimproved or improved residential real8
property, or portion thereof, situated in the parish and includes the buildings9
or structures located on the property regardless of condition.10
(3) "Seizing Creditor" means any person, firm, corporation, partnership,11
association, trust, or legal or commercial entity, or other group of individuals12
however organized, with care, custody, or control of the foreclosed property.13
§5014. Registration of properties in foreclosure14
(A) Any seizing creditor who has had immovable property located within15
a parish seized shall register the property in foreclosure with the governing16
authority of the parish within thirty days after the seizure.17
(B) The registration requirements of this Section shall be satisfied by18
providing the governing authority of the parish with a certified copy of the19
notice of seizure describing the property in accordance with R.S. 13:3851 and20
the Code of Civil Procedure Article 2293.21
(C) An annual registration fee, which shall be set by the governing22
authority of the parish, not to exceed two hundred fifty dollars, shall be paid to23
the governing authority at the time of registration. The fee and registration24
shall be valid for the calendar year, or remaining portion of the calendar year,25
in which the registration was initially required. Subsequent registrations and26
fees are due January first of each year and must be received no later than27
January thirty-first of the year due.28
(1) The registration shall contain the name of the seizing creditor, the29 SB NO. 530
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direct street or office mailing address of the seizing creditor, a direct contact1
name and phone number of the seizing creditor, and in the case of a corporation2
or a foreign seizing creditor, the local property management company3
responsible for the security, maintenance and marketing of the property.4
Registration fees will not be prorated.5
(2) A seizing creditor that has registered a property under this Section6
shall report any change of information contained in the registration with the7
governing authority of the parish within ten days of the change.8
(3) Properties subject to this Section shall remain under the annual9
registration requirement as long as they remain vacant.10
§5015. Cancellation of registration of properties in foreclosure11
Recordation of a notice of cancellation of judgment shall automatically12
cancel the notice of seizure of property affected by the judgment and shall13
remove the property from the property foreclosure registry when the property14
is occupied.15
§5016. Penalties16
Violations of this Section shall be treated as a misdemeanor regardless17
of intent. Administrative penalties imposed pursuant to this Part shall not18
exceed five hundred dollars.19
Section 2. This Act shall become effective upon signature by the governor or, if not20
signed by the governor, upon expiration of the time for bills to become law without signature21
by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If22
vetoed by the governor and subsequently approved by the legislature, this Act shall become23
effective on the day following such approval.24
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Michael Bell.
DIGEST
Broome (SB 530)
Proposed law requires parishes to establish and maintain a registry of foreclosed properties.
Proposed law provides definitions. SB NO. 530
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words in boldface type and underscored are additions.
Proposed law provides that any seizing creditor who has had immovable property seized,
shall register the property in foreclosure with the governing authority of the parish within
30 days of the seizure. Proposed law further requires the registration is satisfied by
providing the governing authority of the parish with a description of the property in
accordance with present law.
Proposed law provides for an annual registration fee to be set by the governing authority not
to exceed $250 to be paid to the governing authority of the parish at the time of registration,
which shall be valid for the calendar year. Further, proposed law provides that properties
subject to registration shall remain under the annual registration requirement as such
property remains vacant.
Proposed law requires that registration contain the name of the seizing creditor, the direct
street and/or office mailing address of the seizing creditor, a direct contact name and phone
number of the seizing creditor and in the case of a corporation or a foreign seizing creditor,
the local property management company responsible for the security, maintenance and
marketing of the property. Provides registration fees will not be prorated.
Proposed law mandates a seizing creditor that has registered a property in the foreclosure
registry to report any change of information contained in the registration with the governing
authority of the parish within 10 days of the change.
Proposed law provides for a cancellation of the registered property when there has been a
recordation of a notice of cancellation of judgment and the property is occupied.
Proposed law provides for violations to be treated as a misdemeanor regardless of intent and
administrative penalties shall not exceed $500.
Effective upon signature of the governor or lapse of time for gubernatorial action.
(Adds R.S. 33:5011-5016)