Louisiana § RS 6:646.1 - Involuntary dissolution; distribution of assets
Full text of Louisiana Louisiana Civil Code § RS 6:646.1 — Involuntary dissolution; distribution of assets, with citation guidance and answers to common questions.
§ RS 6:646.1. Involuntary dissolution; distribution of assets
A. All claims against the assets of an association whose deposits are insured by an agency of the federal government or other approved insurer, proved to the receiver's satisfaction or approved by the receivership court, shall be paid in the following order:
(1) Administration expenses of the liquidation.
(2) Deposit obligations, member share accounts, and share certificate accounts to the extent the account exceeds the deposit insurance coverage.
(3) Loan advances from other credit unions.
(4) Other general liabilities.
(5) Debt subordinated to the claims of depositors and general creditors.
B. No interest on any claim shall be paid until all claims within the same class have received the full principal amount of the claim.
Acts 1989 1st Ex. Sess., No. 13, §2, eff March 13, 1989; Acts 1989, No. 495, §1.
Source: official Louisiana text · Last verified 2026-08-27
Frequently Asked Questions About Louisiana § RS 6:646.1
What does Louisiana Civil Code § RS 6:646.1 cover?
Section RS 6:646.1 ("Involuntary dissolution; distribution of assets") 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 6:646.1?
A common citation format is "Louisiana Civil Code § RS 6:646.1" (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 6:646.1 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.