Terms Used In Louisiana Revised Statutes 13:5593

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.

In all suits instituted by the city of New Orleans for the recovery of any tax imposed or other duties levied, in which the city of New Orleans has recovered judgment, the corporation shall be exempt from all liabilities for sheriff’s costs, actual expenses incurred by virtue of instructions of the proper city officers excepted.

Redesignated from La. Rev. Stat. 33:1514 pursuant to Acts 2011, No. 248, §3.