Louisiana Revised Statutes 51:912.7 – Insurance
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Terms Used In Louisiana Revised Statutes 51:912.7
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
All or part of the builder’s obligation under any warranty required in this Part may be insured by the builder for the benefit of the purchaser through an insurance company authorized to transact business in this state.
Acts 2012, No. 112, §1.