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Code · Louisiana · Title 9 — Civil Code-Ancillaries

RS 9:4903

60 words·~1 min read·/la/title-9/9-1584

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RS 9:4903
§4903. Rank
The privilege is a first privilege upon the road-beds, tracks, rights of way, and franchises of the railroad, and has priority over all other mortgages or encumbrances and shall be paid by preference out of the proceeds of the sale of the road-beds, tracks, rights of way, and franchises of the railroad, under foreclosure or otherwise.
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