2016 Louisiana Laws
Revised Statutes
TITLE 34 - Navigation and Shipping
RS 34:1455 - Prescriptive period; sale of bonds
§1455. Prescriptive period; sale of bonds
A. For a period of thirty days from the date of the adoption of any resolution of the commission authorizing the issuance of its bonds or notes, any person interested may test the legality of the resolution and the validity of the bonds or notes issued or proposed to be issued thereunder, after which time no one shall have any cause of action to contest the regularity, formality, or legality of the resolution or to draw in question the legality of the bonds or notes or the debt represented thereby for any cause whatever, and it shall be conclusively presumed that every legal requirement has been complied with. No court shall have authority to inquire into such matters after the lapse of thirty days.
B. Any bonds issued in accordance with the provisions of this Chapter shall be sold in the manner determined by the commission.
Added by Acts 1956, No. 228, §1. Amended by Acts 1956, No. 246, §1; Acts 2016, No. 325, §1, eff. June 2, 2016.
Disclaimer: These codes may not be the most recent version. Louisiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
