Louisiana Revised Statutes 31:17 – Rescission for lesion beyond moiety unavailable
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Terms Used In Louisiana Revised Statutes 31:17
- Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
A sale of a mineral right is not subject to rescission for lesion beyond moiety.
Acts 1974, No. 50, §1, eff. Jan. 1, 1975.