Louisiana 2011 Regular Session

Louisiana House Bill HB262

Introduced
4/25/11  
Refer
4/25/11  
Report Pass
5/2/11  
Engrossed
5/10/11  
Report Pass
5/31/11  
Enrolled
6/9/11  
Chaptered
6/20/11  

Caption

Provides relative to executory process

Impact

By simplifying the process of validating security agreements used in executory processes, HB262 intends to streamline legal proceedings related to such agreements. This change is expected to reduce the administrative burden on lenders while ensuring that borrowers maintain a certain level of protection regarding the conditions stipulated in these agreements. The amendment could lead to increased efficiency in the legal system as it pertains to the enforcement of credit agreements and other secured transactions.

Summary

House Bill 262, introduced by Representatives Richardson and Tim Burns, aims to amend the Code of Civil Procedure concerning the standards for authentic evidence in executory proceedings. The bill specifically asserts that documentary evidence relating to certain security agreements should be considered authentic without the need for notarization. This change is particularly relevant for lenders and financial institutions that often rely on such documents during proceedings to enforce rights under agreements.

Sentiment

The sentiment around HB262 appears to be largely supportive among financial institutions and legal practitioners who view the amendment as beneficial for the commercial sector. Supporters argue that the bill enhances the efficiency of debt recovery processes and reduces unnecessary bureaucracy. However, there may be concerns about the potential implications for borrowers who might be disadvantaged if protections related to document execution requirements are removed.

Contention

Despite the overall supportive sentiment, there are notable points of contention regarding the impact of the bill on individual borrowers. Some critics may argue that allowing documentary evidence without notarization could leave room for disputes about the authenticity of documents and the rights of borrowers. Additionally, the bill could spark debate around maintaining a balance between facilitating commercial transactions and ensuring that consumer rights remain adequately protected.

Companion Bills

No companion bills found.

Previously Filed As

LA HB661

Provides relative to the admissibility of electronic reproductions of records retained by financial institutions

LA HB1259

Provides relative to the admissibility of electronic reproductions of records retained by financial institutions (EN NO IMPACT See Note)

LA HB697

Provides relative to the origination and evidence of electronic obligations documents

LA HB948

Provides relative to the admissibility of certain evidence

LA HB342

Provides with respect to the registry of certain documents for purposes of executory process

LA HB467

Provides relative to notice of executory process

LA SB24

Authorizes uniform cancellation affidavit for cancellation of mortgage and vendor's lien inscriptions. (8/15/11)

LA HB164

Provides relative to default judgments

LA HB439

Provides for continuous revisions to the Code of Civil Procedure and related provisions of the Revised Statutes

LA HB257

Provides for ex officio financial institution notaries

Similar Bills

No similar bills found.