Louisiana Revised Statutes 6:384 – Notice of conservatorship; effect
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Terms Used In Louisiana Revised Statutes 6:384
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Assets: means all of a state bank's property and rights of every kind. See Louisiana Revised Statutes 6:201
- Conservator: means the commissioner or his designee. See Louisiana Revised Statutes 6:381
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
Upon commencement of the conservatorship of any state bank, the conservator shall immediately post an appropriate notice of the conservatorship at the main entrance to the main office of the bank. No person who has actual knowledge of the conservatorship or who has been notified pursuant to this Section shall have a privilege for any payment, advance, or clearance thereafter made or for any liability thereafter incurred against any of the assets of the bank possessed by the conservator, nor shall the directors, officers, or agents of such bank thereafter have authority to act on behalf of said bank or to convey, transfer, assign, pledge, mortgage, or encumber any assets thereof.
Acts 1984, No. 719, §1, eff. Jan. 1, 1985.