Louisiana § RS 45:1339 - Corporation additional pledge to financing parties
Full text of Louisiana Louisiana Civil Code § RS 45:1339 — Corporation additional pledge to financing parties, with citation guidance and answers to common questions.
§ RS 45:1339. Corporation additional pledge to financing parties
A. The corporation shall pledge to and agree with the issuer for the benefit of the issuer, the bondholders, and other financing parties, that until the related bonds and any ancillary agreements have been paid and performed in full, the corporation shall not do any of the following:
(1) Take or permit any action that impairs or would impair the value of the corporation's beneficial interest in the applicable trust, other than the distributions of dividend income and redemption proceeds contemplated in this Subpart and in the trust agreement.
(2) Approve or allow a modification or amendment pertaining to the corporation's beneficial interest in the applicable trust, or a termination or rescission of the applicable trust agreement or the applicable trust, or in any other way impair the rights and remedies of the corporation as beneficiary under the applicable trust, provided that nothing shall preclude the distributions of dividend income and the redemption proceeds that are contemplated in this Subpart and in the trust agreement.
B. For purposes of this Section and R.S. 45:1340, the term "bondholder" means a person who holds a system restoration bond, including in book entry form.
Acts 2021, No. 293, §3, eff. June 14, 2021.
Source: official Louisiana text · Last verified 2026-08-27
Frequently Asked Questions About Louisiana § RS 45:1339
What does Louisiana Civil Code § RS 45:1339 cover?
Section RS 45:1339 ("Corporation additional pledge to financing parties") 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 45:1339?
A common citation format is "Louisiana Civil Code § RS 45:1339" (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 45:1339 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.