Louisiana § RS 12:951 - Terms defined
Full text of Louisiana Louisiana Civil Code § RS 12:951 — Terms defined, with citation guidance and answers to common questions.
§ RS 12:951. Terms defined
As used in this Chapter, the following words and phrases, unless differently defined or described, shall have the meanings and references as follows:
(1) "Corporation" means a Louisiana industrial development corporation created under this Chapter.
(2) "Financial institution" means any banking corporation or trust company, savings and loan association, insurance company or related corporation, partnership, foundation, or other institution engaged primarily in lending or investing funds.
(3) "Member" means any financial institution authorized to do business within this state which shall undertake to lend money to a corporation created under this Chapter, upon its call, and in accordance with the provisions of this Chapter.
(4) "Board of directors" means the board of directors of the corporation created under this Chapter.
(5) "Loan limit" means, for any member, the maximum amount permitted to be outstanding at one time on loans made by such member to the corporation, as determined under the provisions of this Chapter.
Acts 1969, No. 49, §1.
Frequently Asked Questions About Louisiana § RS 12:951
What does Louisiana Civil Code § RS 12:951 cover?
Section RS 12:951 ("Terms defined") 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 12:951?
A common citation format is "Louisiana Civil Code § RS 12:951" (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 12:951 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.