CC 2814 - Partner as mandatary of the partnership - Louisiana Statutes

CHAPTER 3--RELATIONS OF THE PARTNERSHIP AND THE

PARTNERS WITH THIRD PERSONS

Art. 2814. Partner as mandatary of the partnership

A partner is a mandatary of the partnership for all matters in the ordinary course of its business other than the alienation, lease, or encumbrance of its immovables. A provision that a partner is not a mandatary does not affect third persons who in good faith transact business with the partner. Except as provided in the articles of partnership, any person authorized to execute a mortgage or security agreement on behalf of a partnership shall, for purposes of executory process, have authority to execute a confession of judgment in the act of mortgage or security agreement without execution of the articles of partnership by authentic act.

Acts 1980, No. 150, §1. Amended by Acts 1981, No. 888, §1; Acts 1989, No. 137, §16, eff. Sept. 1, 1989.