Louisiana § RS 48:1267 - Trust funds
Full text of Louisiana Louisiana Civil Code § RS 48:1267 — Trust funds, with citation guidance and answers to common questions.
§ RS 48:1267. Trust funds
A. All moneys received by the authority pursuant to this Chapter, whether as proceeds from the sale of bonds or as revenues, shall be deemed trust funds to be held and applied solely as provided in this Chapter. The resolution authorizing the bonds of any issue or the trust agreement securing such bonds shall provide that any officer with whom, or any bank or trust company with which, such moneys shall be deposited shall act as trustee of such moneys and shall hold and apply the same for the purpose hereof, subject to the provisions of this Chapter and such regulations as such resolution or trust agreement may provide.
B. When, in the opinion of the authority, all moneys in such trust funds are not immediately needed for the purpose for which such funds are provided, the trustee of such funds, upon resolution of the authority specifically adopted for such purpose, is hereby authorized and empowered to temporarily invest and reinvest the amount of such funds authorized in such resolution in United States government securities, which securities shall be direct obligations of, or obligations the payment of the principal and interest of which is guaranteed by the United States government, or to invest and reinvest the amount of such funds in such other securities as are permitted by law for investment of idle funds by the State of Louisiana and its agencies; provided, that any such investment or reinvestment shall be subject to any pertinent provisions of the bond resolution or trust agreement. It is the intent of the legislature that trust funds not be permitted to remain idle in the hands of the trustee when such funds can be put to use as aforesaid.
Acts 1954, No. 232, §17. Amended by Acts 1970, No. 247, §1.
Source: official Louisiana text · Last verified 2026-08-27
Frequently Asked Questions About Louisiana § RS 48:1267
What does Louisiana Civil Code § RS 48:1267 cover?
Section RS 48:1267 ("Trust funds") 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 48:1267?
A common citation format is "Louisiana Civil Code § RS 48:1267" (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 48:1267 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.