La. Stat. tit. 10 § 3-306
Current with changes from the 2024 First and Second Extraordinary Sessions
A person taking an instrument, other than a person having rights of a holder in due course, is subject to a claim of a property or possessory right in the instrument or its proceeds, including a claim to rescind a negotiation and to recover the instrument or its proceeds. A person having rights of a holder in due course takes free of the claim to the instrument.
La. R.S. § 10:3-306