RÉSUMÉ DIGEST
ACT 171 (SB 234) 2016 Regular Session Johns
Prior law, relative to the Additional Default Remedies Act, provided 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.
New 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))