Louisiana § RS 6:1421 - Definitions
Full text of Louisiana Louisiana Civil Code § RS 6:1421 — Definitions, with citation guidance and answers to common questions.
§ RS 6:1421. Definitions
For purposes of this Chapter, the following words have the following meanings:
(1) "Commissioner" means the commissioner of the Office of Financial Institutions.
(2) "Private education lender" means any person engaged in the business of securing, making, or extending a private education loan, or any holder of a private education loan. "Private education lender" shall not include any person who services a private education loan, to the extent such person does not also secure, make, extend, or own the loan. "Private education lender" shall not include any federally insured financial institution, its subsidiaries, and affiliates.
(3) "Private education loan" means an extension of credit or a debt or obligation owed or incurred by a consumer, contractual or otherwise, contingent or absolute, that meets all of the following criteria:
(a) Is not made, insured, or guaranteed under Title IV of the Higher Education Act of 1965, 20 U.S.C. 1070 et seq.
(b) Is extended to or owed or incurred by a consumer expressly, in whole or in part, for postsecondary education expenses, regardless of whether the extension of credit or debt or obligation owed or incurred is provided by the provider of postsecondary education that the student attends.
(c) Does not include any loan that is secured by immovable property or a dwelling.
(4) "Provider of postsecondary education" means a person engaged in the business of providing postsecondary education, via correspondence, online, or in this state, to a person located in this state.
Acts 2022, No. 715, §1.
Frequently Asked Questions About Louisiana § RS 6:1421
What does Louisiana Civil Code § RS 6:1421 cover?
Section RS 6:1421 ("Definitions") is part of the Louisiana Civil Code, the codified statutory law of Louisiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Louisiana § RS 6:1421?
A common citation format is "Louisiana Civil Code § RS 6:1421" (Louisiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Louisiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Louisiana official source linked on this page or consult a licensed Louisiana attorney.
How does Louisiana § RS 6:1421 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Louisiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Louisiana.