CCP 4267 - Loans to tutor for specific purposes; authority to mortgage and pledge minor's property - Louisiana Statutes

Art. 4267. Loans to tutor for specific purposes; authority to mortgage and pledge minor's property

When it appears to the best interest of the minor, and after compliance with Article 4271, the court may authorize a tutor to borrow money for the purpose of preserving or administering the property, of paying debts, for expenditures in the regular course of a business conducted in accordance with Article 4266, or for the care, maintenance, training, or education of the minor. As security for such a loan, the court may authorize the tutor to mortgage or pledge property of the minor upon such terms and conditions as it may direct. Before authorizing a loan, the court may require the tutor to furnish additional security in an amount fixed by the court.