2011 Louisiana Laws
Revised Statutes
TITLE 51 — Trade and commerce
RS 51:51 — Holding of deposit

§51. Holding of deposit

A. The deposit made by an applicant for licensure pursuant to R.S. 51:47(D) shall be held by the consumer protection section for a period of sixty days from the date of delivery of a returned license or the date of acceptance of an affidavit in lieu of such return.

B. While in the hands of the consumer protection section, such deposit shall be subject to attachment or execution in behalf of creditors or consumers whose claim may arise in connection with business done pursuant to the license for which such deposit was made. The consumer protection section may also be held to answer as garnishee under process of foreign attachment in any civil action brought against the licensee. However, no such payment may be made or garnished from the deposit of a licensee until the expiration of the sixty-day period specified in Subsection A of this Section.

C. While in the hands of the consumer protection section, such deposit shall also be subject to the payment of any fine or penalty imposed on the licensee for violation of any provision of this Part. However, such payment shall be made only if the clerk of the court imposing such fine or penalty notifies the section of the name of the licensee and the amount of the fine or penalty during the period in which the deposit is in the hands of the consumer protection section.

D. After satisfying all claims made upon a licensee's deposit, the consumer protection section shall return the deposit, or such portion of the deposit as remains in its hands to the licensee or as directed by the licensee.

Acts 1995, No. 669, §1.