Louisiana § 45:1140 Title of purchaser

Louisiana Statutes

§ 45:1140 — Title of purchaser

Louisiana § 45:1140

Title 45Public Utilities and Carriers

This text of Louisiana § 45:1140 (Title of purchaser) 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. § 45:1140 (2026).

Text

When any sale of the mortgaged property shall be held under the provisions of R.S. 45:1137 through 45:1141, the purchaser at the sale, and his successor or assign, shall be vested with an exclusive permit and franchise to maintain and operate the property purchased, and to continue to supply to the public the commodities, products or services previously supplied by the utility, with the same powers and privileges previously enjoyed by the political subdivision in the operation of said utility. This franchise shall continue for such period not exceeding forty years from the date of sale as may be fixed by the governing body in the resolution authorizing the bonds, and shall be subject to all statutory limitations pertaining to the granting of municipal franchises.

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When any sale of the mortgaged property shall be held under the provisions of R.S. 45:1137 through 45:1141, the purchaser at the sale, and his successor or assign, shall be vested with an exclusive permit and franchise to maintain and operate the property purchased, and to continue to supply to the public the commodities, products or services previously supplied by the utility, with the same powers and privileges previously enjoyed by the political subdivision in the operation of said utility. This franchise shall continue for such period not exceeding forty years from the date of sale as may be fixed by the governing body in the resolution authorizing the bonds, and shall be subject to all statutory limitations pertaining to the granting of municipal franchises.