Louisiana

The relevant statute is La. Rev. Stat. Ann. §9:5389.

A. Actions lender may take: La. Rev. Stat. Ann. §9:5389(A) - Mortgages can secure additional funds that the mortgagee advances for the protection or preservation of the mortgaged property. Mortgages can state that the mortgagee may, at its sole election, purchase insurance on the mortgaged property if the mortgagor fails to comply with its contractual obligation to purchase such insurance.

B. Notices required: No express statutory provision.

C. Coverage required: No express statutory provision.

D. Charges permitted: No express statutory provision.

E. Finance charge allowed on lender's payment: La. Rev. Stat. Ann. §9:5389(B),(C) - Unless the mortgage provides otherwise, all additional sums that the mortgagee advances to protect or preserve the mortgaged property are deemed to bear interest at the mortgage note rate from the date of each such advance until repaid in full by the mortgagor. Mortgages are deemed without further action to secure additional funds the mortgagee advances to protect or preserve the mortgaged property, along with interest on those additional funds.

Click here to view relevant Louisiana Code and Regulations.