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Rule 643. Levy on Goods Pledged or Mortgaged


Goods and chattels pledged, assigned or mortgaged as security for any debt or contract, may be levied upon and sold on execution against the person making the pledge, assignment or mortgage subject thereto; and the purchaser shall be entitled to the possession when it is held by the pledge, assignee or mortgagee, on complying with the conditions of the pledge, assignment or mortgage.

Source: Art. 3797, unchanged.

For context only: Art. 3799. Duty of Officer. The officer shall keep securely all personal property levied on by him for which no delivery bond has been given. If any injury or loss should result by his negligence to any party interested, he and his sureties shall be liable to pay the value of the property so lost or the amount of the injury sustained, and ten per cent thereon, to be recovered by the party injured on motion, three days notice being given in the court from which the execution is­sued.

For context only: Art. 3800. Expense of Keeping Property. The officer shall be authorized to retain out of the proceeds of personal property sold under execution all reasonable expenses incurred by him in making the levy and keeping the property.

Oct. 29, 1940, eff. Sept. 1, 1941.