Louisiana Revised Statutes 51:34 – Application for license; supplemental license
Terms Used In Louisiana Revised Statutes 51:34
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Fiduciary: A trustee, executor, or administrator.
- Goods: includes goods, wares, and merchandise. See Louisiana Revised Statutes 51:31
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Oath: A promise to tell the truth.
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
A. Every person who desires a license under La. Rev. Stat. 51:33 shall make an application to the mayor or to the governing authority of the parish of location, in writing and under oath, showing all the facts in regard to the insurance, bankruptcy, mortgage, insolvency, assignment, administration, receivership, trusteeship, or removal by reason of which the sale is to be conducted, or in regard to the closing out of his stock of goods or any particular line or part, with a statement as to the reason for the closing out, or in regard to the damage to the goods, and in regard to the sale which he proposes to conduct, the place and manner of conducting it, including an inventory of the goods to be sold, a statement, as far as possible, of the names of the persons from whom the goods were obtained, the date of the delivery of the goods to the person applying for the license, the place from which the goods were last taken, and all detail necessary to identify fully the goods to be sold. The application shall also specify whether the applicant proposes to advertise or conduct the sale as a fire, bankruptcy, or fiduciary sale with a statement of the fiduciary relationship.
B. The application shall specify the proposed period of time over which the sale is to continue, which period shall not exceed three months. If it appears upon a sworn application to the mayor, or to the governing authority of the parish of location, at any time during the three-month period, that all of the goods, described and inventoried in the original application, have not been sold, and if the application is accompanied by an inventory of what remains, a supplemental license, granting authority to continue the sale for a further period of three months, shall be issued by the mayor or the governing authority of the parish of location upon the same terms and conditions as the original license.
Acts 1986, No. 806, §1; Acts 1995, No. 669, §1.