Louisiana § RS 12:499.3 - Definitions
Full text of Louisiana Louisiana Civil Code § RS 12:499.3 — Definitions, with citation guidance and answers to common questions.
§ RS 12:499.3. Definitions
In this Part, the following words and phrases shall have the following meanings:
(1) "Board" means board of directors.
(2) "By-laws" means the by-laws of a cooperative housing corporation as they exist from time to time.
(3) "Cooperative housing corporation" means a corporation organized or existing under this Part.
(4) "Limited equity cooperative housing corporation" means a cooperative housing corporation organized and operated primarily for the benefit of low and moderate income persons, and whose equity, after allowance for maximum transfer value of its stock, is permanently dedicated to providing housing to persons of low or moderate income or to charitable purposes.
(5) "Member" means a person who holds voting stock of a cooperative housing corporation.
(6) "Proprietary lease" means an agreement between a cooperative housing corporation and its stockholder for the occupancy of a dwelling unit owned by the cooperative housing corporation.
(7) "Transfer value" means the value which may be paid or received upon the sale or transfer of the stock of a cooperative housing corporation.
Acts 1990, No. 857, §1.
Frequently Asked Questions About Louisiana § RS 12:499.3
What does Louisiana Civil Code § RS 12:499.3 cover?
Section RS 12:499.3 ("Definitions") is part of the Louisiana Civil Code, the codified statutory law of Louisiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Louisiana § RS 12:499.3?
A common citation format is "Louisiana Civil Code § RS 12:499.3" (Louisiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Louisiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Louisiana official source linked on this page or consult a licensed Louisiana attorney.
How does Louisiana § RS 12:499.3 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Louisiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Louisiana.