Louisiana § RS 39:1227 - Failure of depository; depositing authority holding own notes; right to set-off
Full text of Louisiana Louisiana Civil Code § RS 39:1227 — Failure of depository; depositing authority holding own notes; right to set-off, with citation guidance and answers to common questions.
§ RS 39:1227. Failure of depository; depositing authority holding own notes; right to set-off
Any depositing authority which holds its own note as security, in whole or in part, for its deposits in any bank, shall, if the bank fails, have the right to set-off its deposits against its note; and shall have the same right with respect to evidence of participation by its own note held by it as security, provided the right of set-off does not affect the rights of other holders of evidence in the notes.
Source: official Louisiana text · Last verified 2026-08-27
Frequently Asked Questions About Louisiana § RS 39:1227
What does Louisiana Civil Code § RS 39:1227 cover?
Section RS 39:1227 ("Failure of depository; depositing authority holding own notes; right to set-off") 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 39:1227?
A common citation format is "Louisiana Civil Code § RS 39:1227" (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 39:1227 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.