2011 Louisiana Laws
Revised Statutes
TITLE 39 — Public finance
RS 39:574 — Penalties


LA Rev Stat § 39:574 What's This?

§574. Penalties

A. Any member of any governing authority, and any original purchaser or agent who violates any of the provisions of R.S. 39:572 or 39:573 shall be fined not less than one hundred dollars nor more than one thousand dollars or shall be imprisoned for not more than six months, or both.

B. Any person, firm or corporation violating the provisions of R.S. 39:572 or 39:573 shall be further liable, in solido, in a civil action, for the difference between the amount received for the bonds and the minimum amount fixed by the constitution and the law for which the bonds could legally be sold. Suit for the recovery of this difference shall be brought by the Attorney General or the district attorney on his own initiative, or when directed to do so by the governor, for the benefit of the treasury of the governing authority which sold the bonds.

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