Art. 2338.  Judgment creditor having superior privilege; price insufficient to satisfy inferior mortgage

A.  If the security interest, mortgage, lien, or privilege of the seizing creditor is superior to other security interests, mortgages, liens, and privileges on the property, he may require that the property be sold, even though the price is not sufficient to satisfy his or the inferior security interests, mortgages, liens, and privileges.

B.  If the seizing creditor is not present or represented at the sale, the property shall not be sold for less than the amount necessary to fully satisfy his writ plus the costs.

Acts 1987, No. 939, §1; Acts 1989, No. 137, §18, eff. Sept.  1, 1989.