Louisiana § RS 45:1239 - Alternative issuers; additional powers and duties for the corporation; limitations; approval of storm recovery bonds by the State Bond Commission; financing order requirements
Full text of Louisiana Louisiana Civil Code § RS 45:1239 — Alternative issuers; additional powers and duties for the corporation; limitations; approval of storm recovery bonds by the State Bond Commission; financing order requirements, with citation guidance and answers to common questions.
§ RS 45:1239. Alternative issuers; additional powers and duties for the corporation; limitations; approval of storm recovery bonds by the State Bond Commission; financing order requirements
A. Notwithstanding any provisions to the contrary in R.S. 45:1228 and 1233, when the corporation is participating in a securitization financing transaction pursuant to this Part, the financing order may authorize any Louisiana public entity that has a separate corporate existence and that is eligible to issue debt on which interest is exempt from income taxation under the laws of the United States to be the issuer of the storm recovery bonds. After the issuance of such financing order, the corporation shall arrange for the issuance of the storm recovery bonds as specified in the financing order by an issuer selected by the corporation and approved by the commission. The corporation shall enter into a loan transaction with the issuer and then transfer the net proceeds of such storm recovery bonds received by the corporation to the pertinent utility as the purchase price of the storm recovery property.
B. The corporation shall not itself have the authority to issue storm recovery bonds. The corporation may issue promissory notes to issuers pursuant to this Part.
C. When storm recovery bonds are issued pursuant to this Section, the bonds shall be approved by the State Bond Commission.
Acts 2021, No. 293, §2. eff. June 14, 2021.
Source: official Louisiana text · Last verified 2026-08-27
Frequently Asked Questions About Louisiana § RS 45:1239
What does Louisiana Civil Code § RS 45:1239 cover?
Section RS 45:1239 ("Alternative issuers; additional powers and duties for the corporation; limitations; approval of storm recovery bonds by the State Bond Commission; financing order requirements") 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 45:1239?
A common citation format is "Louisiana Civil Code § RS 45:1239" (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 45:1239 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.