CHAPTER 4. SECURITY OF TUTOR Art. 4131. Amount A. The person appointed tutor, except the natural tutor, shall furnish security for the faithful performance of his duties in an amount equal to the total value of the minor’s movable property as shown by the inventory or detailed descriptive list, plus such additional sum as the […]
Art. 4132. Nature of security A. The security required by Article 4131 shall be in the form of a bond, to be approved by the court, and secured by: (1) A surety company authorized to do business in this state; (2) Bonds of this state or of any political subdivision or any municipality thereof, or […]
Art. 4133. Special mortgage instead of bond A. Instead of the security required by Articles 4131 and 4132, the tutor may furnish a special mortgage in favor of the minor on immovable property otherwise unencumbered. The mortgage shall be for the same amount as the security required by Article 4131 and shall be approved by […]
Art. 4134. Natural tutor; bond; recordation of certificate of inventory or detailed descriptive list A. Except as provided in Article 4135, a natural tutor shall not be required to furnish bond, but shall record in the mortgage records of the parish of his domicile a certificate of the clerk setting forth the date of birth […]
Art. 4135. Security instead of legal mortgage Instead of the legal mortgage provided in Article 4134, a natural tutor may furnish bond in the amount provided by Article 4131 and of the nature provided by Article 4132, or a special mortgage as provided in Article 4133. If the court determines that the legal mortgage will […]
Art. 4136. Substitution of one kind of security for another Any tutor who desires to give bond or security and thus release from an existing general or special mortgage the whole or a portion of the property covered thereby may do so with the approval of the court as provided in Article 4271, provided the […]
Art. 4137. Subordination of legal mortgage to conventional mortgage The legal mortgage provided in Article 4134 may be subordinated to a conventional mortgage or other security to be given on the property of the tutor, provided such subordination is authorized by the court after proof that such would be to the best interest of the […]
