Article 1632. Application of this chapter to certain personal security

(1) The provisions of this chapter do not apply to insurance contracts. In case of insurance securing a debtor’s obligations, the provisions of this chapter apply only if the insurer has issued a document establishing a personal security in favor of a specific creditor.
(2) The provisions of this chapter do not affect the legal rules concerning endorsements and aval of negotiable instruments, but they may apply to personal security for obligations arising from such instruments.