Louisiana § RS 45:383 - Mortgages to secure another railroad's bonds
Full text of Louisiana Louisiana Civil Code § RS 45:383 — Mortgages to secure another railroad's bonds, with citation guidance and answers to common questions.
§ RS 45:383. Mortgages to secure another railroad's bonds
Any railroad company doing business or owning property in Louisiana, may mortgage its property and franchises, whether then owned or to be acquired, in whole or in part, to secure bonds issued by any other railroad corporation of this or any other state. These bonds shall be issued to refund or secure the means to pay, or the proceeds of which shall be, or have been used to pay, the indebtedness of the mortgage corporations, or to improve or develop its property, or for any purpose authorized by its incorporation. The corporation issuing the bonds shall determine the amounts, the length of time, whether payable within or without Louisiana, and the rate of interest, not to exceed the legal rate at the place of payment.
Source: official Louisiana text · Last verified 2026-08-27
Frequently Asked Questions About Louisiana § RS 45:383
What does Louisiana Civil Code § RS 45:383 cover?
Section RS 45:383 ("Mortgages to secure another railroad's bonds") 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 45:383?
A common citation format is "Louisiana Civil Code § RS 45:383" (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 45:383 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.