Louisiana Administrative Code
Title 7 - AGRICULTURE AND ANIMALS
Part XXXVII - Security Devices
Chapter 1 - Central Registry
Section XXXVII-101 - Definitions

Buyer in the Ordinary Course of Business-a person who, in the ordinary course of business, buys farm products from a person engaged in farming operations who is in the business of selling farm products.

Central Registry-the place for recordation of all effective financing statements and written security devices which establish a security interest in farm products, and the place for recordation of assignments, amendments, extensions, and cancellations thereof.

Commission Merchant-any person engaged in the business of receiving any farm product for sale, on commission, or for or on behalf of another person.

Commissioner-the Louisiana Commissioner of Agriculture and Forestry, or his duly authorized agent.

Creditor-any person who holds a security interest in a farm product.

Crop Year-

1. for a crop grown in soil, the calendar year in which it is harvested or to be harvested;

2. for animals, the calendar year in which they are born or acquired; or

3. for poultry or eggs, the calendar year in which they are sold or to be sold.

Cumulative Addendum-a document listing all filings with the Central Registry as of the date of issuance that are not listed on the most recent master list.

Debtor-any person who owns or has an ownership interest in farm products which are subject to a security interest of creditors.

Department-the Louisiana Department of Agriculture and Forestry.

Effective Financing Statement (EFS)-a written instrument which is an abstract of a security device and which complies with the provisions of R.S. 3:3654(E).

Encumbrance Certificate-a written document signed by the commissioner which lists all security devices affecting a person which has been filed with the Central Registry on the date and at the time the certificate is issued and which complies with the provision of R.S. 3:3654(F).

Farm Product-an agriculture commodity such as wheat, corn, soybeans or a species of livestock, such as cattle, hogs, sheep, horses or poultry, used or produced in farming operations or a product of such crop or livestock in its unmanufactured state, such as ginned cotton, wool-clip, maple syrup, milk and eggs, that is in the possession of a person engaged in farming operations.

Farm Product Encumbrance List (Master List)-a document listing all effective financing statements, amendments, assignments and extensions of effective financing statements which:

1. is organized according to farm product; and

2. is arranged within each such product in alphabetical order according to the last name of the individual debtors, or, in the case of debtors doing business other than as individuals, the first word in the name of such debtors; in numerical order according to the Social Security number of the individual debtors, or, in the case of debtors doing business other than as individuals, the Internal Revenue Service taxpayer identification number of such debtors; geographically by parish; and by crop year.

Filing-the receipt of any EFS, amendment, assignment, extension or cancellation of an EFS with any other security devices accompanied by a related EFS by the Central Registry stamped with the date and time received and assigned a file number.

Knows or Knowledge-actual knowledge.

Person-any individual, partnership, corporation, trust or any other business entity.

Registrant-any person who has made application with the Central Registry, has paid the required registration fee and received written notice that his application has been accepted.

Regular Business Day-any day that the department is open for routine business.

Secured Party-a creditor with a security interest in farm products.

Security Device-a written instrument that establishes a creditor's security interest in farm products of any pledge or privilege described in R.S. 9:4521, whether or not evidenced by a written instrument.

Security Interest-an interest in or encumbrance upon farm products that secures payment or performance or an obligation.

Selling Agent-any person, other than a commission merchant, who is engaged in the business of negotiating the sale and purchase of any farm product on behalf of a person engaged in farm operations.

AUTHORITY NOTE: Promulgated in accordance with R.S. 3:3652, R.S. 3:3654 and Public Law 99-198 (Food Security Act of 1985).