Louisiana § RS 6:1253 - Withdrawable accounts
Full text of Louisiana Louisiana Civil Code § RS 6:1253 — Withdrawable accounts, with citation guidance and answers to common questions.
§ RS 6:1253. Withdrawable accounts
A. Withdrawable accounts shall be:
(1) Withdrawable and subject to enforced retirement as provided in this Part. Nothing in this Chapter shall prevent the withdrawal of funds from a savings bank by nonnegotiable order;
(2) Entitled to interest as provided in this Part;
(3) Nonassessable for either debts or losses of the savings bank; and
(4) Issued in such series or classes as the bylaws and commissioner's regulations may provide.
B. There shall be no penalty, such as loss of interest thereon, on accounts transferred at interest or dividend payment date from passbook types to certificates of deposit within the same savings bank and not otherwise inconsistent with regulations of the Federal Deposit Insurance Corporation.
Acts 1990, No. 816, §1, eff. Sept. 1, 1990.
Frequently Asked Questions About Louisiana § RS 6:1253
What does Louisiana Civil Code § RS 6:1253 cover?
Section RS 6:1253 ("Withdrawable accounts") 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 6:1253?
A common citation format is "Louisiana Civil Code § RS 6:1253" (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 6:1253 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.