Louisiana Revised Statutes 48:596 – Consolidated road districts succeed to liabilities, duties, and rights
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Terms Used In Louisiana Revised Statutes 48:596
- district: means "road district, sub-road district, or consolidated road district. See Louisiana Revised Statutes 48:572
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
The consolidated road district shall, upon lodging its liquidation bonds with the State Treasurer, succeed to and become charged with all the liabilities and duties and vested with all the rights, jurisdiction, and authority of the several districts included therein.
Nothing contained in this Section shall operate to extinguish the corporate existence of any district until all its debts and obligations have been paid.