La. Admin. Code tit. 10 § XV-1315

Current through Register Vol. 50, No. 11, November 20, 2024

Section XV-1315 - Prohibitions

A. A repossession agent shall not:

1. use a name other than that which is on its license;

2. contract with a secured party for self-help repossession who is not authorized by the Additional Default Remedies Act to use the provisions of that Act;

3. allow an unlicensed person to repossess collateral; or

4. allow an apprentice to repossess collateral without on-site supervision of a repossession agent, except as provided in LAC 10:XV.1303(E)(3);

5. use a tow truck unless such vehicle is compliant with the applicable provisions and rules of the Louisiana Towing and Storage Act (R.S. 32:1771 et seq. and LAC 55:1901 et seq.).

B. A repossession agent and apprentice under his supervision shall not:

1. repossess collateral as agent for anyone other than the repossession agency with which he is employed and licensed;

2. identify himself with a name or repossession agency other than the one with which he is licensed;

3. carry a dangerous weapon on his person or in his vehicle when repossessing collateral;

4. repossess collateral while under the influence of alcohol or a dangerous drug;

5. wear any clothing, badge, insignia, or any other item usually identified with law enforcement officers;

6. remove any personal effects from a repossessed automobile for personal use; or

7. fail to return his identification card to the commissioner within 10 days from ceasing employment with the repossession agency with which he is licensed.

C. A repossession agent and apprentice under his supervision shall not breach the peach which includes, but is not limited to:

1. unauthorized entry by a repossessor into a closed dwelling, whether locked or unlocked;

2. oral protest by a debtor to the repossessor against repossession prior to the repossessor seizing control of the collateral shall constitute a breach of the peace by the repossessor.

La. Admin. Code tit. 10, § XV-1315

Promulgated by the Office of the Governor, Office of Financial Institutions, LR 30:2815 (December 2004), amended by House Concurrent Resolution No. 3 of the 2014 Regular Legislative Session, LR 40:1226 (June 2014).

AUTHORITY NOTE: Promulgated in accordance with R.S. 6:966.1(D).