Louisiana Revised Statutes 45:852 – Bonds of employees; utility not to designate surety; penalty
Terms Used In Louisiana Revised Statutes 45:852
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
No public utilities corporation, or its officers or managers requiring any employee to post bond for his fidelity and honesty, shall require the employee to make such bond by giving as surety any specific bonding company designated or named by such corporations, its officers or managers. Any bonding company authorized to do business under the laws of Louisiana that may be selected by the employee shall be accepted as surety on such bond when such bonding company is offered as surety.
When satisfactory to the employers, bond may be made in such cases by the employee giving private surety.
This Section shall not apply to bonds whereon the premium is paid by the employer and is not charged to the employee in any manner.
Whoever violates this Section shall be fined not more than five hundred dollars, or imprisoned for not more than six months.