Louisiana § RS 9:3573.4 - Bond; trust account
Full text of Louisiana Louisiana Civil Code § RS 9:3573.4 — Bond; trust account, with citation guidance and answers to common questions.
§ RS 9:3573.4. Bond; trust account
A. All credit repair services organizations shall obtain a surety bond issued by a company licensed to do business in Louisiana.
B. The bond shall be filed with the attorney general of Louisiana.
C. The bond must be in favor of the state of Louisiana for the benefit of any person who is damaged by any violation of this Part.
D. Any persons claiming against the bond for a violation of this Part may maintain an action at law against the credit repair services organization and against the surety or trustee. The surety or trustee shall be liable only for damages awarded under R.S. 9:3573.10 and not the punitive damages permitted under that Section. The aggregate liability of the surety or trustee to all persons damaged by a credit repair services organization's violation of this Part shall not exceed the amount of the bond or trust account.
E. The bond shall be in the amount of one hundred thousand dollars.
F. The credit repair services organization shall notify the attorney general in writing within thirty days after it has ceased to do business in this state.
G. The failure to obtain or file the bond as required by this Section shall constitute a violation of this Part for purposes of civil or criminal remedies or penalties.
Acts 1992, No. 345, §1; Acts 2003, No. 1027, §1, eff. Dec. 31, 2003; Acts 2004, No. 79, §1, eff. May 28, 2004; Acts 2006, No. 190, §1; Acts 2008, No. 858, §1, eff. July 9, 2008; Acts 2009, No. 76, §1.
Source: official Louisiana text · Last verified 2026-08-27
Frequently Asked Questions About Louisiana § RS 9:3573.4
What does Louisiana Civil Code § RS 9:3573.4 cover?
Section RS 9:3573.4 ("Bond; trust account") 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 9:3573.4?
A common citation format is "Louisiana Civil Code § RS 9:3573.4" (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 9:3573.4 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.