Louisiana § 33:4338 Purchaser of utility at foreclosure sale entitled to franchise

Louisiana Statutes

§ 33:4338 — Purchaser of utility at foreclosure sale entitled to franchise

Louisiana § 33:4338

Title 33Municipalities and Parishes

This text of Louisiana § 33:4338 (Purchaser of utility at foreclosure sale entitled to franchise) is published on Counsel Stack Legal Research, covering Louisiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

La. Stat. Ann. § 33:4338 (2026).

Text

In event foreclosure proceedings are instituted by virtue of any bonds issued under the provisions of this Sub-part, and in the event any person becomes the owner of such utility at the foreclosure sale, the purchaser shall without any further action on the part of the governing authority of the municipality become automatically vested with a franchise to operate the utility for such term as would have been required to pay and retire all of the bonds foreclosed upon in full.

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In event foreclosure proceedings are instituted by virtue of any bonds issued under the provisions of this Sub-part, and in the event any person becomes the owner of such utility at the foreclosure sale, the purchaser shall without any further action on the part of the governing authority of the municipality become automatically vested with a franchise to operate the utility for such term as would have been required to pay and retire all of the bonds foreclosed upon in full.