The Louisiana Uniform Commercial Code — Amendment (LUCCA) is a set of amendments to the original Louisiana Uniform Commercial Code (UCC). The LUCCA was enacted in 1988 to provide the state of Louisiana with a comprehensive set of laws governing commercial transactions involving goods, services, and real estate. The LUCCA includes provisions for the sale of goods, leases, security interests, negotiable instruments, bank deposits and collections, letters of credit, bulk transfers, investment securities, and secured transactions. The LUCCA also addresses the formation of business entities, including sole proprietorship, partnerships, limited liability companies, and corporations. Different types of Louisiana Uniform Commercial Code — Amendment include the Louisiana UCC-1 Financing Statement Amendment, the Louisiana UCC-3 Amendment to Financing Statement, the Louisiana UCC-3A Amendment to Financing Statement — Assignment, and the Louisiana UCC-9-403 Statement of Termination.
Louisiana Uniform Commercial Code - Amendment
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FAQ
To address this issue, the UCC creates an exception to the general rules on priority for the purchase of monetary collateral. A creditor must have a security arrangement with the debtor in order to have a valid security right. The security agreement must: A car loan is the most well-known transaction secured by UCC.
UCC-1 Financing Statements may be filed with any Louisiana Parish Clerk of Court without regard to the debtor's address, location of the collateral or of any related immovable. Initial Financing Statements can now be submitted to any Louisiana Parish Clerk of Court online through the Secretary of State's website.
Each jurisdiction, however, may make its own modifications (Louisiana has never adopted Article 2), and may organize its version of the UCC differently.
In January of 1990, Louisiana adopted the Uniform Commercial Code.
A request for a certified search of the UCC records must be submitted in writing to one of the Clerk of Court offices. The fee for the search is $30 per debtor name. The Secretary of State offers subscriptions to the UCC database for an annual fee of $400. The fee allows the subscriber unlimited usage.
In January of 1990, Louisiana adopted the Uniform Commercial Code.
What are the fees for filing a UCC-1? The filing fee for filing a UCC-1 is $30.
The LSLI did not recommend the adoption of U.C.C. articles 2 (Sales) and 9 (Secured Transactions) because those provisions would have had ?an undesirable impact upon the important areas of Louisiana civilian heritage? governing sales contracts and security rights.