Louisiana § RS 47:287.526 - Shipowners' protection and indemnity associations
Full text of Louisiana Louisiana Civil Code § RS 47:287.526 — Shipowners' protection and indemnity associations, with citation guidance and answers to common questions.
§ RS 47:287.526. Shipowners' protection and indemnity associations
There shall not be included in gross income the receipts of shipowners' mutual protection and indemnity associations which are not organized for profit and no part of the net earnings of which inures to the benefit of any private shareholder; but such corporations shall be subject to the tax imposed by this Part on their Louisiana taxable income from interest, dividends, and rents earned within or derived from sources within this state, for a taxable year, the same as any nonexempt corporation.
Acts 1986, 1st Ex. Sess., No. 16, §1, eff. Dec. 24, 1986.
Source: official Louisiana text · Last verified 2026-08-27
Frequently Asked Questions About Louisiana § RS 47:287.526
What does Louisiana Civil Code § RS 47:287.526 cover?
Section RS 47:287.526 ("Shipowners' protection and indemnity associations") 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 47:287.526?
A common citation format is "Louisiana Civil Code § RS 47:287.526" (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 47:287.526 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.