Terms Used In Louisiana Revised Statutes 40:403

  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.

Except to the extent the municipality or parish may expressly elect to undertake such liability, neither the municipality or parish with respect to which a local housing authority is established, nor any municipality or parish participating in a regional housing authority, nor the state, nor any other public agency of this state shall be responsible for the debts or liabilities of any local housing authority or regional housing authority.

Added by Acts 1972, No. 293, §1; Acts 1997, No. 1188, §1.