Security Agreement Louisiana

§9-201. General effectiveness of the security agreement (1) validation of tariffs, fees, agreements or practices in violation of any law or provision referred to in subsection (b); or (a) overall effectiveness. Except as otherwise provided in this Title, a security agreement shall be effective between the parties, against the purchasers of the collateral and against the creditors, in accordance with their terms. (b) Applicable consumer laws and other laws. A transaction subject to this Chapter is subject to all applicable laws or regulations that set out another rule for consumers and to any other law or regulation governing interest rates, fees, agreements and practices applicable to credit or other credit renewals. Laws 1988, No. 528, §1, eff. 1 January 1990; Laws 1989, No. 135, §7, eff. 1 January 1990; Laws 1990, No. 1079, §4, eff.

1 September 1990; Laws 1995, No. 1201, §3, eff. 29. June 1995; Laws 1997, No. 1295, §2; Laws 2001, no. 128, §1, eff. 1 July 2001. (d) Continued compliance with other applicable law.

This chapter does not apply to: (2) the application of the Act or regulation to a transaction that is not otherwise subject to that Act. (c) Other Controls under Applicable Law. In the event of an objection between this Chapter and a consumer protection regulation described in subsection (b), the Consumer Protection Act or the Consumer Protection Regulation shall monitor. Failure to comply with any law or regulation described in paragraph (b) has only the effect determined by the law or regulation. . . .