RS 10:9-329.1
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/la/title-10/10-319A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
RS 10:9-329.1
§9-329.1. Priority of security interest in a life insurance policy
The following rules govern priority among conflicting security interests in the same life insurance policy:
(1)A security interest held by an insurer has priority over a conflicting security interest held by another secured party.
(2)A secured party that has control over the life insurance policy has priority over a conflicting security interest held by a secured party without control.
(3)Except as otherwise provided in Paragraph (1), security interests perfected by control under R.S. 10:9-314 rank according to priority in time of obtaining control.
Acts 2001, No. 128, §1, eff. July 1, 2001.