Louisiana § RS 9:1141.16 - Rights of secured parties
Full text of Louisiana Louisiana Civil Code § RS 9:1141.16 — Rights of secured parties, with citation guidance and answers to common questions.
§ RS 9:1141.16. Rights of secured parties
A. The declaration may require that specified actions of the lot owners or the association shall be approved by creditors who hold security rights in the lots or who have extended credit to the association, but no requirement for approval may operate to do any of the following:
(1) Deny or delegate control over the general administrative affairs of the association by the lot owners or the board of directors.
(2) Control the establishment or imposition of assessments except as provided in Subsection C of this Section.
(3) Prevent the association or the board of directors from commencing, intervening in, or settling any litigation or proceeding.
(4) Prevent the association from receiving and distributing any insurance proceeds to make necessary repairs as a result of a casualty.
B. A lender who has extended credit to an association secured by a security right to the income of the association or a security right in the common areas or limited common areas may enforce the security right in accordance with its terms, subject to the requirements of this Part or other provisions of law. Requirements that the association deposit with the lender the association's periodic income in which the lender holds a security right do not violate Subsection A of this Section.
C. If approved by an association in accordance with R.S. 9:1141.28, the holder of a security right may require that assessments shall not be decreased without its approval.
Acts 2024, No. 158, §2, eff. Jan. 1, 2025.
Source: official Louisiana text · Last verified 2026-08-27
Frequently Asked Questions About Louisiana § RS 9:1141.16
What does Louisiana Civil Code § RS 9:1141.16 cover?
Section RS 9:1141.16 ("Rights of secured parties") 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 9:1141.16?
A common citation format is "Louisiana Civil Code § RS 9:1141.16" (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 9:1141.16 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.