Louisiana Revised Statutes 47:9018 – Bond; letters of credit or other surety
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Louisiana Revised Statutes 47:9018
- 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.
- Corporation: means the Louisiana Lottery Corporation. See Louisiana Revised Statutes 47:9002
Whenever a bond is required for the protection of the corporation, letters of credit or other surety approved by the corporation may be utilized in lieu of a bond. All bonds or letters of credit shall be reviewed at least annually as to their solvency and sufficiency.
Acts 1990, No. 1045, §1, eff. Nov. 7, 1990.