Louisiana § RS 49:322 - Possession or control of securities pledged and securities acquired through repurchase agreements
Full text of Louisiana Louisiana Civil Code § RS 49:322 — Possession or control of securities pledged and securities acquired through repurchase agreements, with citation guidance and answers to common questions.
§ RS 49:322. Possession or control of securities pledged and securities acquired through repurchase agreements
Any security pledged for any deposit of state funds or acquired through repurchase agreements, whether in the hands of the state depositing authority or held in safekeeping or trust by any bank or trust company, including any Federal Reserve Bank or any Federal Home Loan Bank or its successor, shall be deemed to be under the control or in the possession of such state depositing authority and deemed to be held in its name by such bank, trust company, Federal Home Loan Bank or its successor, or Federal Reserve Bank, or agent for such depositing authority. Any security pledged shall be delivered into the custody of such state depositing authority if, as, and when demanded. A pledge of security shall be considered a perfected security interest of the state depositing authority by the depository or the safekeeping or trust department of any bank or trust company in possession of the security and shall be binding upon the depository, the safekeeping or trust department of any bank or trust company, its successors, receivers, or assigns. However, securities acquired through repurchase agreements shall be delivered upon demand.
Acts 1988, No. 916, §1; Acts 1990, No. 919, §1.
Source: official Louisiana text · Last verified 2026-08-27
Frequently Asked Questions About Louisiana § RS 49:322
What does Louisiana Civil Code § RS 49:322 cover?
Section RS 49:322 ("Possession or control of securities pledged and securities acquired through repurchase agreements") 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 49:322?
A common citation format is "Louisiana Civil Code § RS 49:322" (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 49:322 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.