SUBPART C. PAYMENTS UNDER POLICIES OF INSURANCE
§4581. Holder of vendor's privilege on property destroyed by fire, privilege on insurance
The holder of a vendor's privilege on movable property which is destroyed by fire has a privilege to the amount of the unpaid portion of the purchase price on the claim or money due the owner or vendee under policies of insurance covering that property. This privilege has the rank of a vendor's privilege on the thing sold and is superior in rank to any privilege growing out of the attachment, garnishment, or seizure of the claim or money.
Notes of Decisions
Haynes v. Stand. Fire Ins. Co., 370 So. 2d 118 (La. Ct. App. 1979).
· cites it 2× “R.S. 9:4581 [1] and La.R.S. 9:4582 [2] and therefore had an interest in the draft.”
Holtzclaw v. Falco, Inc., 355 So. 2d 1279 (La. 1978).
“R.S. 9:4581 which expressly provides for a vendor's privilege on fire insurance proceeds.”
Leon A. Minsky, Inc. v. Providence Fashions, 404 So. 2d 1275 (La. Ct. App. 1981).
· cites it 2× “R.S. 9:4581. [1] Plaintiff further took the position that the bank was not a bona fide loss payee at the time of the fire as the wrong endorsement form was attached to the policy, therefore, the subsequent amendment of the policy by the insurer had no effect on plaintiff's…”
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