Cap. 16 Art. 1178Where creditor consents to withdrawal of deposit declared valid.

The creditor who has allowed the debtor to withdraw the deposit after it had been declared valid, can no longer, for the payment of the debt due to him, enforce any privilege or hypothec with which such debt was secured; and such creditor shall no longer enjoy a right of hypothec except from the day on which the act whereby he agreed to the withdrawal of the deposit, being an act made with the formalities necessary for creating a hypothec and for being registered in the Public Registry, shall have been so registered.