An agreement of the kind specified in R.S. 10:9-104(a)(2) does not constitute a waiver or subordination of a security interest in favor of the bank unless it specifically so provides.
La. R.S. 10:9-343
Control agreement not automatic subordination
Known as the Uniform Commercial Code
The act spans §§ 10-1-101 to 10-9-343 (238 sections).
Acts 2001, No. 128, §1, eff
Official source: Louisiana State Legislature. Reproduced from public-domain Louisiana statutes; confirm against the official source for the current text. Not legal advice.