Usufruct
R.S. 12:961

Deposits ACTIVE

The corporation shall not deposit any of its funds in any banking institution unless such institution has been designated as a depository by a vote of a majority of the directors present at an authorized meeting of the board of directors, exclusive of any director who is an officer or director of the depository so designated. The corporation shall not receive money on deposit.

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JSON Markdown Source (legis.la.gov)

References

None.

Cited by

None.

History

  • enactment Acts 1969, No. 49, §11

Section navigation

Cite R.S. 12:961

Bluebook
La. Rev. Stat. Ann. § 12:961 (2026).
Permalink
https://theusufruct.com/rs/title-12/section-961
BibTeX
@misc{larevstat-12-961,
  title        = {La. Rev. Stat. Ann. § 12:961},
  howpublished = {Louisiana Revised Statutes},
  year         = {2026},
  url          = {https://theusufruct.com/rs/title-12/section-961},
  note         = {Snapshot 2026-05-22}
}