SLS 16RS-492 ORIGINAL
2016 Regular Session
SENATE BILL NO. 234
BY SENATOR JOHNS
SEIZURES/SALES. Provides relative to additional default remedies by certain debtors
under certain secured transactions. (8/1/16)
1 AN ACT
2 To amend and reenact R.S. 6:966.1(B), relative to the Additional Default Remedies Act; to
3 provide relative to additional default remedies by certain debtors under certain
4 secured transactions; to provide for the "Notice of Repossession"; to provide that no
5 additional fees may be assessed for filing of the "Notice of Repossession"; to provide
6 terms and conditions; and to provide for related matters.
7 Be it enacted by the Legislature of Louisiana:
8 Section 1. R.S. 6:966.1(B) is hereby amended and reenacted to read as follows:
9 ยง966.1. Notice of repossession; contents; fees
10 * * *
11 B. Within three business days of taking possession of collateral, the secured
12 party shall deliver in person or send by mail a payment of seventy-five dollars to the
13 recorder of mortgages and two hundred fifty dollars to the appropriate official for
14 each "Notice of Repossession" filed. If the payment is sent by mail, the timeliness
15 of the mailing shall be shown only by an official United States postmark or by
16 official receipt or certificate from the United States Postal Service or private delivery
17 service. Notwithstanding any other provision of law to the contrary, the
Page 1 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 234
SLS 16RS-492 ORIGINAL
1 recorder of mortgages shall not assess any additional fees for the filing of the
2 "Notice of Repossession".
3 * * *
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by J. W. Wiley.
DIGEST
SB 234 Original 2016 Regular Session Johns
Present law provides that within three business days of taking possession of collateral, the
secured party must deliver in person or send by mail a payment of $75 to the recorder of
mortgages and $250 to the appropriate official for each "Notice of Repossession" filed.
Proposed law provides that notwithstanding any other provision of law to the contrary, the
recorder of mortgages cannot assess any additional fees for the filing of the "Notice of
Repossession".
Effective August 1, 2016.
(Amends R.S. 6:966.1(B))
Page 2 of 2
Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.