Louisiana § 40:599.28 Trust funds

Louisiana Statutes

§ 40:599.28 — Trust funds

Louisiana § 40:599.28

Title 40Public Health and Safety

This text of Louisiana § 40:599.28 (Trust funds) 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. § 40:599.28 (2026).

Text

§599.28. Trust funds A. Proceeds from the sale of bonds and other revenues received under this Part are trust funds to be held and applied solely as provided in this Subtitle. B.

(1)Each officer, bank, or trust company that receives trust money from the authority under this Part shall act as trustee of the money and shall hold and apply the money for the purposes specified under this Part.

(2)The officer, bank, or trust company holding money is subject to:

(a)Any regulation adopted under this Subtitle.

(b)The resolution authorizing the issuance of bonds or the trust agreement.

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§599.28. Trust funds
A. Proceeds from the sale of bonds and other revenues received under this Part are
trust funds to be held and applied solely as provided in this Subtitle.
B.(1) Each officer, bank, or trust company that receives trust money from the
authority under this Part shall act as trustee of the money and shall hold and apply the money
for the purposes specified under this Part.
(2) The officer, bank, or trust company holding money is subject to:
(a) Any regulation adopted under this Subtitle.
(b) The resolution authorizing the issuance of bonds or the trust agreement.