Cap. 16 Art. 2041Exceptions.

(1) The provisions of the last preceding article shall not apply where it was not possible, owing to the insufficiency of time, to make the registration; and such insufficiency of time shall be presumed if fifteen days shall not have elapsed from the day on which the registration could have been made to the day on which the debtor was in a state of bankruptcy, or on which the creditor became aware of the existence of circumstances on which the debtor could found a declaration of bankruptcy, or on which the debtor died.

(2) Nor shall such provisions apply with regard to the registration of privileges or hypothecs acquired previously to the day last mentioned, if the time allowed for the preservation thereof shall not have yet elapsed.