2011 Louisiana Laws
Revised Statutes
TITLE 39 — Public finance
RS 39:616.1 — Unpaid holder of matured bonds

LA Rev Stat § 39:616.1 What's This?

§616.1. Unpaid holder of matured bonds

Any holder of any outstanding bond of any such political subdivision issued under this Subpart, which has matured and has not been paid for lack of funds, upon surrendering such bond to the issuing authority, may receive in substitution therefor a refunding bond of the same amount, with such rate or rates of interest not exceeding the maximum authorized by Act 19 [R.S. 39:1421 to 39:1426], and such maturity not longer than forty years after the date of the refunding bond as is agreed upon between the holder of the outstanding bond or other evidence of indebtedness and the issuing authority.

Added by Acts 1975, No. 163, §1.

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