Louisiana Revised Statutes 33:4545.34 – Responsibility of municipalities in operation as utilities
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Terms Used In Louisiana Revised Statutes 33:4545.34
- Authority: shall mean the political subdivision and body politic and corporate created, organized and existing pursuant to the provisions of this Chapter, or if the Authority shall be abolished, the board, body, commission, department or officer succeeding to the principal functions thereof or to whom the powers given by this chapter may be given by law. See Louisiana Revised Statutes 33:4545.3
- 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.
Nothing in this Chapter shall be construed to alter the principle that municipalities in the operation of their utility systems are held to the same responsibility as is a private corporation. Any Authority created pursuant to this Chapter shall likewise be held to the same responsibility as is a private corporation with respect to its conduct of utility operations.
Added by Acts 1979, No. 772, §1, eff. July 20, 1979.