A new law regarding public officials was enacted in the state of Louisiana. Named HB 1067, the new law allows an affidavit from the obligee of record to replace a promissory note for identification with a mortgage or act creating a vendor’s privilege on fixed property if the note was misplaced or damaged. HB 1067 states that both the clerk of the court, ex-officio recorder of mortgages and the surety on his or her bond do not have any accountability for any damages that any individual or entity suffered as a result of terminating the inscription of a mortgage or vendor’s privilege pursuant to such an affidavit. The legislation is indistinguishable to legislation that the past Governor Blanco prohibited in 2007.
Louisiana Public Official Bond Update
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Category: Commercial Bonds, Surety News
Tags: bond requirements, LA, legislation, Louisiana, public official bond, surety bond



Surety Bond Blog: Louisiana Public Official Bond Update http://www.jwsuretybonds.com/blog/louisiana-public-official-bond-update
Comment by JW_Surety_Bonds (Michael Weisbrot) — December 9, 2009 @ 7:24 pm