Art. 3498.  Actions on negotiable and nonnegotiable instruments

Actions on instruments, whether negotiable or not, and on promissory notes, whether negotiable or not, are subject to a liberative prescription of five years.  This prescription commences to run from the day payment is exigible.

Acts 1993, No. 901, §§1 and 2, eff. July 1, 1993; Acts 1993, No. 948, §§6 and 9, eff. June 25, 1993.

{{NOTE: ACTS 1992, NO. 1133, §1 ADDED SECTION 3-A OF CHAPTER 4, TITLE XXIV, BOOK III CONTAINING ART. 3498.  THIS PROVISION WAS REPEALED BY ACTS 1993, NO. 901, §2, EFF. JULY 1, 1993, AND BY ACTS 1993, NO. 948, §9, EFF. JUNE 25, 1993.}}