{"data":{"id":"us-la/rs-9-5324","jurisdiction":"us-la","citation":"RS 9:5324","heading":"Schedule of penalties","body":"No penalty for the prepayment of any indebtedness evidenced by an instrument which is secured by a mortgage on rural property may exceed:\n(1) five percent of the unpaid principal balance if prepaid during the first year from the date of the instrument;\n(2) four percent of the unpaid principal balance if prepaid during the second year from the date of the instrument;\n(3) three percent of the unpaid principal balance if prepaid during the third year from the date of the instrument;\n(4) two percent of the unpaid principal balance if prepaid during the fourth year from the date of the instrument;\n(5) one percent of the unpaid principal balance if prepaid during the fifth year from the date of the instrument;\n(6) no prepayment penalty shall be assessed if prepaid more than five years from the date of the instrument.","path":["TITLE 9. CIVIL CODE-ANCILLARIES"],"source_url":"https://www.legis.la.gov/legis/Law.aspx?d=108194","current_through":"2025 First Extraordinary Session","vintage":"","retrieved_at":"2026-09-14T04:49:59Z","sha256":"4b8bc5cc419a5212ebb0873a2b839cea1cc12eed03ddbe91fcf52a3648f5027b","source_id":"us-la","stale":false,"prev":"us-la/rs-9-5323","next":"us-la/rs-9-5325"},"notice":"GroundRules: Original legal text. Not legal advice."}