CC 3095 - Creditors not required to participate in respite or remission. - Louisiana Statutes

Art. 3095. Creditors not required to participate in respite or remission.

The following classes of persons cannot be compelled to enter into any contract of respite or remission:

Privileged creditors, of what nature soever their privileges may be, and creditors who have a special mortgage by public act.

Minors, for the balance of account of their tutorship.

Therefore, the privileged creditors, and those who have a special mortgage as aforesaid, cannot be deprived by any respite, though agreed to by a majority of the creditors in number and in amount, of the right of seizing the property on which they have a privilege; but if such property does not prove sufficient to satisfy their debt, they shall be restrained from acting for the surplus, either against the person of their debtor, or against those of his effects on which they have no privilege, except after the expiration of the term granted by the respite.

But creditors having a general mortgage are bound by the respite, in the same manner as ordinary creditors.

Amended by Acts 1979, No. 711, §1.