Terms Used In Louisiana Revised Statutes 48:702

  • 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.

Whenever the governing authorities of any parish or municipal corporation of this state desire to construct a road, street or alley leading to any property of the state or any of its subdivisions, boards, commissions, or political corporations, and it appears that the construction will make it unnecessary to the public welfare to continue any then existing road, street or alley or any part thereof to permit access to or from the public property or to or from any property served by the old road, the parish or municipal corporation governing authority may, by proper ordinance, revoke and set aside the dedication of the road, street or alley, or any part thereof, and exchange it with property owners, so that new roads, streets or alleys or parts thereof, leading to or from any property of the state or any of its subdivisions, boards, commissions or political corporations may be laid out and dedicated to the public use.  The property so exchanged shall become private property.  

Amended by Acts 1966, No. 485, §1.