Louisiana Revised Statutes 6:383 – Transfer of title to bank assets; extension of prescriptive periods
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Terms Used In Louisiana Revised Statutes 6:383
- Conservator: means the commissioner or his designee. See Louisiana Revised Statutes 6:381
A. Upon confirmation of a conservator, title to all assets of the bank shall vest in the conservator without the execution of any instruments of conveyance, assignment, transfer, or endorsement.
B. Notwithstanding any other laws to the contrary, the prescriptive period shall be extended for a period of six months on all causes of action accruing to the conservator pursuant to Subsection A.
Acts 1984, No. 719, §1, eff. Jan. 1, 1985.