Louisiana Revised Statutes 51:665 – Violation; injunction; forfeiture of corporate charter and privileges
Terms Used In Louisiana Revised Statutes 51:665
- 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.
- Finance company or finance agency: means any person engaged in the business of financing the sale of motor vehicles, or engaged in the business of purchasing or acquiring promissory notes, either secured by vendor's privilege or chattel mortgage, arising from the sale of motor vehicles in this state. See Louisiana Revised Statutes 51:661
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- purchase: include exchange, barter, gift, and offer to contract to sell or buy. See Louisiana Revised Statutes 51:661
- Subpoena: A command to a witness to appear and give testimony.
The district courts have jurisdiction to grant injunctions restraining violations of this Part upon proceedings brought by the Attorney General, the district attorney or any party in interest. The procedure shall be by petition and citation as in other causes and the court has power to issue such temporary restraining orders as may be just in the premises. Where necessary, the court may subpoena parties residing out of the parish in order to properly dispose of the case. For repeated violations of this Part, the court may enjoin a finance company or finance agency from engaging in the business of financing the purchase or sale of motor vehicles in this state.
Where the violator is a corporation, domestic or foreign, the charter rights, franchises or privileges of such corporation or the privilege of doing business in this state may be revoked in a quo warranto proceeding brought by the Attorney General or the district attorney for the district. In such proceeding, the court shall enter an order or decree that it thinks proper to carry into effect the provisions of this Part and to prevent unfair competition and prohibit monopolies.