Usufruct
R.S. 30:2114

Posting of bond ACTIVE

A. The department shall require the posting of a bond by licensees to provide funds in the event of abandonment, default, or other inability of the licensee to meet the requirements of the department.

B. A bond deemed acceptable in Louisiana shall be a bond issued by a fidelity or surety company authorized to do business in Louisiana, a personal bond secured by such collateral as the department deems satisfactory, a cash bond, or a letter of credit.

C. The department is authorized to exempt classes of licensees from the requirements of this Section when a finding is made that such exemption will not result in a significant risk to the public welfare and safety.

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JSON Markdown Source (legis.la.gov)

References

None.

Cited by

History

  • enactment Acts 1979, No. 449, §1, eff. Jan. 1, 1980
  • amendment Acts 1999, No. 303, §1, eff. June 14, 1999

Section navigation

Cite R.S. 30:2114

Bluebook
La. Rev. Stat. Ann. § 30:2114 (2026).
Permalink
https://theusufruct.com/rs/title-30/section-2114
BibTeX
@misc{larevstat-30-2114,
  title        = {La. Rev. Stat. Ann. § 30:2114},
  howpublished = {Louisiana Revised Statutes},
  year         = {2026},
  url          = {https://theusufruct.com/rs/title-30/section-2114},
  note         = {Snapshot 2026-05-22}
}